Chase Coleman's Tiger Global has adjusted its portfolio, divesting shares in Nvidia, Microsoft, and Alphabet to acquire AMD stock. The move reflects a belief that AMD offers a better risk/reward profile compared to the incumbents, which are seen as already priced for perfection. AMD's Data Center revenue reached $6.7 billion in Q2, up 107% year over year, now accounting for 58% of its total revenue and contributing to a 140% year-to-date stock surge. Despite strong growth, AMD trades at a trailing P/E of 132 and a forward P/E of 69, indicating high valuation and little room for error.