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Billionaire David Tepper's Appaloosa Management Sold Entire Sandisk Stake, Initiated Broadcom Position in Q2
Hedge fund Appaloosa Management, founded by billionaire David Tepper, fully exited its position in NAND flash memory maker Sandisk (NASDAQ: SNDK) during the second quarter, after initiating the stake in Q1 2026. Concurrently, the fund established a new position in AI chipmaker Broadcom (NASDAQ: AVGO). Broadcom designs custom AI accelerators (XPUs) for hyperscale customers like Google (TPUs) and Meta Platforms (MTIA chips), with management projecting over $100 billion in AI semiconductor revenue by fiscal 2027. Tepper's move reflects a strategy to secure gains from Sandisk's recent rally and reallocate capital to a company with deeper competitive advantages and longer growth potential in the AI infrastructure space.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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