Billionaire Philippe Laffont Just Sold Top Artificial Intelligence Stocks Nvidia and AMD and Piled Into 2 Players Dominating Another High-Growth Billion-Dollar Industry

As founder of Coatue Management, Philippe Laffont oversees $26.9 billion invested in more than 80 stocks, and though he buys players across many sectors, one in particular stands out. The billionaire is known for his investments in innovative companies, and he's generally found them in the area of technology. The sector consistently represented more than 40% of his holdings over the past five quarters, and four of his five most heavily weighted stocks -- led by Meta Platforms and Amazon -- are giants in the tech field.But in the third quarter, Laffont and his team cut their positions in two of the world's most-watched tech stocks right now and increased positions in two stocks in a completely different high-growth area that's generating billions of dollars these days. Laffont reduced artificial intelligence (AI) chip giants Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD), companies that have been growing data center sales in the triple digits, and increased investment in two companies dominating a market that may reach beyond $100 billion later this decade. Let's find out more.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool