David Tepper’s Hedge Fund Increases Investments Tied to AI Boom – Fagen wasanni
Appaloosa Management’s David Tepper made significant investments in stocks related to the artificial intelligence (AI) industry during the last quarter, according to a recent regulatory filing. One of the standout moves was a substantial increase in Appaloosa’s stake in chipmaker Nvidia, which became Tepper’s largest holding valued at $432 million by the end of June. Nvidia has experienced a remarkable surge in its share price, rising nearly 200% due to a promising forecast of future AI demand. This surge has propelled Nvidia’s market value to over $1 trillion.
In addition to Nvidia, Tepper’s top holdings also include major tech companies such as Meta, Microsoft, Amazon, and Alphabet, all of which have recently emphasized their AI capabilities. Google, a part of Alphabet, has announced the integration of AI features into its search engine. Microsoft has made a multiyear, multibillion-dollar investment in OpenAI, the creator of ChatGPT. Meta has introduced its own AI computer chips….
The post David Tepper’s Hedge Fund Increases Investments Tied to AI Boom – Fagen wasanni first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/08/14/david-teppers-hedge-fund-increases-investments-tied-to-ai-boom-fagen-wasanni_2023081448935.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.