David Tepper’s Appaloosa hedge fund piles into host of A.I.-related stocks

Appaloosa Management's David Tepper doubled down on several stocks tied to the artificial intelligence boom in the last quarter, a new regulatory filing revealed. The hedge fund manager hiked his stake in Nvidia drastically, making it his biggest holding at the end of June, worth $432 million. The chipmaker has been this year's biggest AI winner with shares rallying nearly 200% on the back of its blowout forecast of future demand.

Alphabet's Google unit recently announced it will bring AI features to its signature search engine. Microsoft has announced a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI. Meta recently unveiled its own AI computer chips . Tepper, 65, also bought into several semiconductor companies that manufacture advanced chips. AMD , Intel , Qualcomm , Marvell, Broadcom and Taiwan Semiconductor all appeared in his portfolio last quarter.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Airbnb mega-hosts: How large management companies can affect your travel experienceMega-hosts are not mom-and-pop homeowners trying to earn extra income. They’re large management companies, some with hundreds of properties in their portfolios
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Activist investor Elliott Investment Management dissolves stake in PayPalActivist investor Elliott Investment Management has dissolved its stake in payments giant PayPal , according to a filing with the U.S. Securities and Exchange Commission.
La source: Reuters - 🏆 2. / 97 Lire la suite »