Billionaire Philippe Laffont Just Sold Shares of Nvidia and 2 Other AI Powerhouses and Bought Shares of This Nvidia-Backed Company

The artificial intelligence (AI) boom has driven stock market gains over the past couple of years, but the momentum may be far from over. Not only do analysts predict an AI market of more than $2 trillion by the early 2030s, but current activity in the space supports that. Technology companies from Meta Platforms to Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have announced billions of dollars in spending to support AI projects. Data center buildout continues. And there are more AI stages to come, such as the moment of AI agents, when companies will apply AI to handle complex real-world problems.All of this is right up the alley of billionaire Philippe Laffont, who as founder of Coatue Management, focuses on innovators and invests heavily in tech companies. In fact, the biggest positions in Coatue's $22.6 billion portfolio are Meta and Amazon, each with weightings of more than 9%.So, it may seem surprising that right now, with so much ahead for AI, Laffont just sold some shares of top AI chip designer Nvidia (NASDAQ: NVDA) and two other AI giants. But, at the same time, Laffont picked up shares of an Nvidia-backed company that could become the next AI powerhouse. Let's take a look at his moves and consider the potential of this newish player.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool