David Tepper’s Appaloosa Management ramped up several technology and artificial intelligence-related bets in the first quarter, according to a regulatory filing released Thursday. Amazon became Appaloosa’s largest disclosed equity holding at the end of March, valued at roughly $900 million after the hedge fund increased the position by 98% during the quarter. The Miami-based firm also boosted its Uber stake by 242%, raised its Vistra Energy holding by 114% and added 18% to Taiwan Semiconductor . Appaloosa increased its Micron Technology position by 11% and grew its stake in the iShares MSCI South Korea ETF (EWY) . The hedge fund also disclosed a sizable new position in Sandisk , valued at roughly $179 million at the end of March. The moves highlight Tepper’s continued positioning around themes tied to AI, including semiconductors, cloud infrastructure and rising power demand from data centers. At the same time, the hedge fund pared back several holdings. Appaloosa reduced its Alibaba Group stake by 33%, trimmed Alphabet by 3% and cut Nvidia by 13%. Despite the reductions, Alphabet, Alibaba and Nvidia all remained among Appaloosa’s 10 largest disclosed U.S. equity holdings at quarter-end. Tepper, founder of Appaloosa Management, is known for making concentrated bets across technology, macro and cyclical sectors. The billionaire investor has been closely watched on Wall Street for his positioning around the AI-driven rally that has powered equities to record highs over the past two years.
