Posted 4/13/2024, 9:50:00 AM
Billionaire Investors Tepper and Coleman Sell Some Nvidia While Betting Big on Amazon's Cloud and AI Future
- David Tepper and Chase Coleman, two billionaire investors, are selling some of their shares in AI chipmaker Nvidia.
- Tepper and Coleman bought more shares of Amazon in Q4 2023, betting on its leadership in cloud computing and generative AI.
- Amazon Web Services is the top cloud platform and is investing heavily in supporting generative AI development.
- Amazon sees generative AI driving tens of billions in revenue over the next several years.
- Amazon's profits are rising due to increasing margins in e-commerce and fast growth in digital advertising.