Quick Read – Tepper nearly doubled his Amazon stake to 15% of his portfolio, betting on AWS’s 28% YoY revenue growth, which represented its fastest pace in 15 quarters. – Tepper cut NVIDIA by 13% and AMD by 32%, rotating profits from chip names into the hyperscaler buying those…
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David Tepper’s Appaloosa Management trimmed NVIDIA (NASDAQ:NVDA) by roughly 13% of shares and cut AMD (NASDAQ:AMD) by roughly 32% of shares while nearly doubling its Amazon position, adding about 2.14 million shares (an increase of roughly 98%) during the quarter ended March 31, 2026. The disclosure landed in the 13F filed May 15, 2026, and the math of the rebalance is what matters: Amazon became Appaloosa’s single largest disclosed holding at roughly 15% of the portfolio. This is point-in-time data; it tells you how Tepper was positioned at quarter-end, not what he owns this morning.
The featured AI play is Amazon (NASDAQ:AMZN), and the AI angle is AWS. Tepper rotated capital out of two semiconductor names that have screamed higher into the hyperscaler that those chips sell into. AMD is up roughly 151% year to date through June 18, 2026, and NVIDIA has gained roughly 13% YTD after a multi-year run.