Determined to secure re-election to Congress, Representative Marjorie Taylor Greene, the Republican congresswoman from Georgia, took time out of her schedule to make some adjustments to her investment portfolio before Election Day. In early November, she went on a buying spree, buying shares of several artificial intelligence (AI) stocks in addition to stocks from other sectors.
The additions included Advanced micro devices (NASDAQ: AMD), Apple (NASDAQ: AAPL), Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Digital Property To trust (NYSE: DLR), Meta Platforms (NASDAQ: META)And Tesla (NASDAQ: TSLA). While it is not clear exactly how much Greene invested in each share, her regulatory filings show that each trade on November 1 was worth between $1,001 and $15,000.
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There’s no denying that Greene is incredibly optimistic about the future of AI and consistently buys shares of companies that offer different types of exposure to the fast-growing field. For example, AMD first hit Greene’s buying screen in 2022.
More recently, she bought shares of the semiconductor maker last May, causing her average trading price to drop thanks to a mild market sell-off after the company reported third-quarter 2024 financial results. While shares closed at $164.66 on May 21, they ended the trading session on November 1 at a price of $141.86.
Like AMD, Apple is a position Greene has steadily built, having bought the company three times now in 2024. Just before purchasing Apple stock, the company reported strong fourth-quarter 2024 financial results.
In addition to strong year-over-year revenue and profit growth, the company highlighted its push for AI with its Apple Intelligence tool that will be available on the iPhone, iPad and Mac.
Expanding its exposure to AI, Greene increased its position in Digital Realty Trust, a real estate investment trust (REIT) specializing in data centers, which handles the high computational load required by AI programs. Digital Realty Trust provides Greene with a stable – and secure – passive income stream.
Currently, the REIT offers a forward dividend yield of 2.7%, and the company generated enough free cash flow to cover its dividend over the past decade. The investment-grade balance sheet provides additional certainty that the dividend is not in danger of being jeopardized.
During the Q3 2024 conference call, CEO Mark Zuckerberg confirmed that Meta Platforms is benefiting from the company’s adoption of AI, with he and the rest of management “estimating that there are now more than 3.2 billion people living at least one of our apps every day, and we’re seeing rapid adoption of Meta AI and Llama [the company’s generative AI model]which is quickly becoming a standard across the industry.”
