: Tepper’s Appaloosa places big bets on Apple and AI chipmakers Nvidia and AMD, while dropping Tesla


David Tepper’s Appaloosa LP revealed new positions in both Advanced Micro Devices Inc. and Apple Inc. in a Securities and Exchange Commission filing late Monday, while dumping a position in Tesla Inc. it acquired a quarter ago.

In the quarterly filing, Appaloosa reported a new 2.3 million-share position in Advanced Micro Devices Inc. AMD, +4.10% and a 480,000-share position in Apple Inc. AAPL, +0.94%. Tepper also increased his stake in Nvidia Corp. NVDA, +7.09% by 580% to just over 1 million shares and more than doubled his stake in Meta Platforms Inc. META, +1.51% to 1.5 million shares.

Meanwhile, Appaloosa increased its stake in Amazon.com Inc. AMZN, +1.56% by 58% to 3.2 million shares and hiked its stake in Microsoft Corp. MSFT, +0.94% by more than 375% to 1.2 million shares, while dumping stakes in Salesforce Inc. CRM, +1.61% and Tesla Inc. TSLA, -1.19%. Back in May, Tepper had reported a new position in Tesla and Nvidia. Appaloosa also shed its positions in Walt Disney Co. DIS, -0.24% and Match Group Inc. MTCH, +0.24%.

On Friday, George Soros also reported new positions in AMD, Nvidia and Microsoft, which is heavily invested in OpenAI’s ChatGPT generative artificial intelligence, while also dumping Salesforce.

Read: George Soros loads up on AI chip makers Nvidia and AMD while selling Salesforce and Snowflake shares

Appaloosa also established new positions in chip-related stocks such as Intel Corp. INTC, +2.26%, Lam Research Corp. LRCX, +2.34%, Broadcom Inc. AVGO, +2.93%, Marvell Technology Inc. MRVL, +4.34%, Micron Technology Inc. MU, +6.07%, Qualcomm Inc. QCOM, -0.51% and Taiwan Semiconductor Manufacturing Co. TSM, +1.17%.

This article was originally published by Marketwatch.com. Read the original article here.

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