Acclaimed American investor Jim Rogers has invested capital in Uzbekistan after entirely exiting the US stock market fearing an AI bubble and correction.

Rogers, 83, known for his work with George Soros and for motorcycling around the world, has invested in most shares on the Tashkent Stock Exchange, according to a January 8 report of an interview with RBC Investments and Radio RBC. He was cited as saying that Uzbek stocks had become an "unusual" portfolio position for him, adding: "I bought most of the [shares] that are traded on the [Tashkent Stock] Exchange—there aren't many, and I bought almost all of them."

Rogers also said that he does not hold Uzbek sovereign debt, but believed in the Uzbek currency, the Uzbekistani som (UZS), and has not hedged it.

The investor, who further described how he had sold all of his Russian stocks but was hanging on to his ruble holdings, added that he may choose to divest his Chinese holdings as he sees China’s market as overbought.

"I have a broad portfolio of Chinese stocks. But again, the Chinese market has been growing almost nonstop lately, so I might have to sell Chinese stocks soon because everything is going up. I'm not sure yet; I'm still considering what to do," he added.

On the Tashkent Stock Exchange, the shares of approximately 85 companies from the banking, oil and gas, telecommunications, and other sectors are traded.

Back in 2021, Rogers told Forbes that he was keeping an eye on Uzbekistan because its economy had "finally opened up".

Of the US market, he told RBC: “"The American market recently reached historic highs. It's been growing since 2009—the longest period of growth in US history. I sold everything in America because it's the longest period of growth in history. I obviously sold too early, but in my opinion, the cycle is coming to an end. There may be another major move higher, but I've sold everything I had in the US."