David Tepper’s hedge fund allocates $3.3 billion to Amazon, Micron, and four other AI-driven companies in Q1.
Billionaire investor David Tepper has concentrated 56% of Appaloosa Management’s $5.9 billion portfolio in six stocks tied to artificial intelligence. The holdings, disclosed in a recent 13F filing, include Amazon, Micron Technology, Alphabet, Uber, Taiwan Semiconductor, and Alibaba, reflecting a strong conviction in AI’s long-term growth potential.
Appaloosa’s top position, Amazon, accounts for 15.2% of invested assets, followed by Micron at 9.5% and Alphabet’s Class C shares at 8.4%. The fund’s focus on AI mirrors broader market trends, with major indices like the S&P 500 and Nasdaq reaching record highs amid optimism about AI-driven productivity gains.
The move underscores Tepper’s alignment with Wall Street’s top money managers, who increasingly view AI as a transformative force for corporate earnings. Uber, the sole non-hardware player in the group, is leveraging AI to enhance its ride-hailing platform.