David Tepper's Investment Fund Adds SpaceX and CoreWeave Shares to Portfolio

Appaloosa Management, the hedge fund founded by billionaire investor David Tepper, expanded its portfolio in the second quarter as part of its moves targeting the artificial intelligence and technology sectors.

Details of the Investment Move

Appaloosa Management, the hedge fund headed by billionaire investor David Tepper, continues its interest in technology and artificial intelligence-focused stocks.

During the second quarter, the fund included shares of Space Exploration Technologies and CoreWeave in its portfolio.

Current Portfolio Structure

Appaloosa Management's portfolio already includes major industry leaders such as Amazon, Micron Technology, Taiwan Semiconductor Manufacturing, and Alphabet.

These four giant companies continue to make up approximately 50 percent of the fund's portfolio.

SpaceX's Financial Developments

Breaking the record for the largest IPO in June, SpaceX recorded a 92 percent year-over-year revenue increase in the second quarter.

While the company's revenue in this period reached $7.8 billion, its net loss per share declined compared to the previous period.

CoreWeave's Growth Figures

Operating in the field of leasing artificial intelligence computing capacity, CoreWeave increased its revenue by 112.5 percent year-over-year in the second quarter.

The company's total revenue in this period rose to $2.6 billion, reaching a revenue backlog level of $104 billion by the end of the period.