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Billionaire David Tepper Trimmed Micron and Sold out of SanDisk. Here's the New AI Stocks He's Buying
24/7 Wall St. • • business
Key Points:
- David Tepper’s Appaloosa Management reduced holdings in memory-chip makers like Micron Technology and exited SanDisk entirely in Q2 2026, reallocating capital deeper into the AI technology stack.
- Tepper trimmed positions in fabless chip designers AMD and Qualcomm, despite their strong year-to-date gains, while increasing stakes in Amazon, Taiwan Semiconductor Manufacturing, NVIDIA, and opening a new position in CoreWeave.
- Notably, Tepper expanded investments in independent power producers Vistra and NRG Energy, recognizing the growing energy demand from data centers supporting AI workloads, despite these stocks’ recent underperformance.
- The shift reflects a strategic rotation from volatile chipmakers to more stable, foundational layers of the AI ecosystem, including cloud services, semiconductor fabrication, and power infrastructure.
- Tepper’s move into utilities like Vistra and NRG offers a potentially attractive valuation and steady cash flow, aligning with a long-term investment thesis focused on the essential infrastructure underpinning AI growth.
