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Appaloosa dumps AI memory stocks, loads up on Magnificent Seven in Q2
David Tepper's Appaloosa hedge fund sold off previously high-flying AI memory chip stocks in the second quarter while significantly increasing its position in Magnificent Seven megacap tech stocks. The shift marks a rotation away from memory chip manufacturers that had surged on the AI boom. The moves signal growing conviction among large funds that the biggest tech giants will capture more of the AI upside.
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