Billionaire David Tepper increases stake in AI stocks like Oracle, Alibaba, and Amazon.

From Nasdaq: 2024-03-29 05:47:00

David Tepper, billionaire investor, saw his net worth reach $20.6 billion in 2023. He made a big move by investing in Nvidia, whose shares more than tripled by year-end. Tepper also loaded up on AI stocks like Oracle, Alibaba, and Amazon, showing his confidence in the tech sector’s growth potential.

Tepper initiated a new position in Oracle during the fourth quarter, now making it Appaloosa’s 12th-largest holding. Oracle’s strong growth prospects and strategic partnerships with tech giants like Nvidia and Microsoft make it an attractive AI stock for investors looking for long-term growth potential.

Tepper increased his stake in Chinese tech giant Alibaba by 21% in Q4, betting on the company’s leadership in various markets. Despite recent challenges, Alibaba’s valuation and comeback potential could offer patient investors solid long-term gains, though caution is advised due to uncertainties tied to investing in Chinese stocks.

Appaloosa increased its stake in Amazon during Q4, making it the third-largest position in Tepper’s portfolio. Favorable earnings and free-cash-flow growth, combined with Amazon Web Services’ AI opportunities and expansion into new markets like healthcare, make Amazon a strong pick for investors seeking growth in the tech sector.



Read more at Nasdaq: Billionaire David Tepper Is Loading Up on These Artificial Intelligence (AI) Stocks — and Nvidia Isn’t One of Them