Billionaire Philippe Laffont Sells Amazon Stock and Buys an Nvidia-Backed AI Stock Up 230% This Year

Billionaire Philippe Laffont is one of the most successful investors on Wall Street. He is the portfolio manager at Coatue Management, a hedge fund that beat the S&P 500 (SNPINDEX: ^GSPC) by 122 percentage points during the three-year period that ended in June.Laffont made some notable trades in the second quarter. He sold 596,100 shares of Amazon (NASDAQ: AMZN), trimming his stake 5%. He also bought 3.3 million shares of CoreWeave (NASDAQ: CRWV), an AI stock backed by Nvidia (NASDAQ: NVDA), which now ranks as his largest holding at 8% of his portfolio. CoreWeave stock is up 230% since going public earlier this year.Here's what investor should know.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool