Billionaire David Tepper Slashed His Position in Nvidia. Here Are the Artificial Intelligence (AI) Stocks He Bought Instead.
David Tepper amassed a fortune of $20.6 billion by making plenty of smart decisions. Some investors will probably question one of his recent decisions, though. In the fourth quarter of 2023, Tepper sold nearly 23% of his Appaloosa Management hedge fund's position in Nvidia (NASDAQ: NVDA).
In retrospect, that doesn't appear to be a great move. Nvidia's shares have skyrocketed more than 70% so far in 2024. However, Tepper remains heavily invested in the GPU maker. Nvidia is still Appaloosa's fourth-largest holding. He's also still very bullish on artificial intelligence (AI). Here are four AI stocks the billionaire investor bought in Q4.
(NYSE: ORCL) ranks as Tepper's biggest new position in Q4. He bought 1.32 million shares of the database and software giant that were worth close to $140 million at the end of 2023.
Source Fool.com
Oracle Corp. Stock
With 38 Buy predictions and not a single Sell prediction Oracle Corp. is an absolute favorite of our community.
As a result the target price of 140 € shows a slightly positive potential of 9.46% compared to the current price of 127.9 € for Oracle Corp..
