Steve Eisman says he reduced AI exposure after selling Alphabet

Steve Eisman, the investor known for "The Big Short," said he has cut back on artificial intelligence exposure after selling his longheld stake in Alphabet. Speaking on CNBC's "Squawk Box" on Monday, Eisman said he sold Google shares a few months ago and wanted to reduce his AIrelated risk. He said the move reflects concern that investors may be overlooking the downside if AI spending does not lead to the results they expect. Eisman said he is not positioning against the broader market, but he believes many portfolios are more concentrated in tech and AI than they appear. He added that he is holding cash while he decides how to allocate it next.