Billionaire David Tepper Dumped Intel and Oracle in the Past Quarter, and Piled Into These AI Infrastructure Stocks

Appaloosa Management's founder, David Tepper, has long been known for his impressive and consistent returns on Wall Street. The billionaire investor and prominent hedge fund manager has built a name for investing in distressed debt and "deep-value" equity by taking stakes in companies whose debt or share prices have been negatively affected by excessive investor fears.With his exceptional investment instincts and ability to find opportunities during market stress, he has earned billions in profits. Tepper's trade in distressed bank stocks during the 2008 financial crisis has positioned him as a "master of contrarian investing."Hence, it is not surprising that Appaloosa Management's exit from enterprise giants Intel (NASDAQ: INTC) and Oracle (NYSE: ORCL) in the third quarter has raised eyebrows. Instead, the fund has picked a new position in artificial intelligence (AI) infrastructure player Advanced Micro Devices (NASDAQ: AMD) and dramatically increased its stake in Nvidia (NASDAQ: NVDA).Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool