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David Tepper dumps SanDisk after 591% rally, shifts Appaloosa into AI chip stocks
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Via enlightenedstocktrading.com.
Key facts
- SanDisk stock had already ripped 591% year-to-date through mid-August, touching a peak of $2,354.39 on June 22
- The fund opened a 225,000-share position in SpaceX, valued at approximately $38.5 million
- At over $1.19 billion, it represents a conviction-level bet that Amazon Web Services will remain a dominant player in the AI cloud computing market
- Appaloosa posted a 32% return in the first half of 2026, driven largely by memory-chip holdings that benefited from surging demand in AI data centers
Summary
The billionaire's fund sold its entire SanDisk position and redirected capital into Amazon, Nvidia, Taiwan Semiconductor, and a fresh SpaceX bet. David Tepper’s hedge fund Appaloosa Management dumped every single share of SanDisk during the second quarter of 2026, cashing out of a position worth roughly $179 million at the prior quarter’s end, and redeployed the proceeds into a concentrated bet on AI infrastructure and the companies powering it. SanDisk stock had already ripped 591% year-to-date through mid-August, touching a peak of $2,354.39 on June 22. Appaloosa’s reallocation reads like a shopping list for the AI arms race.