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

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Appaloosa Management's David Tepper last quarter doubled down on several stocks tied to the artificial intelligence boom, a filing revealed.

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.

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