David Tepper’s Appaloosa Management significantly reduced its stake in Nvidia, dropping it from its top five holdings, while tripling its position in Micron Technology. This strategic shift reflects a focus on AI hardware components like memory over chip designers, with Micron now becoming a core bet on AI infrastructure spending. The move also involved boosting stakes in other AI enablers like Meta Platforms and Alphabet, alongside reducing exposure to Alibaba.
David Tepper's Appaloosa Drops Nvidia from Top 5 Holdings, Boosts Micron Stake
David Tepper’s Appaloosa Management significantly reduced its stake in Nvidia, dropping it from its top five holdings, while tripling its position in Micron Technology. This strategic shift reflects a focus on AI hardware components like memory over chip designers, with Micron now becoming a core bet on AI infrastructure spending. The move also involved boosting stakes in other AI enablers like Meta Platforms and Alphabet, alongside reducing exposure to Alibaba.