Appaloosa Management expands stakes in AI and aviation sectors

David Tepper’s Appaloosa Management has diversified its portfolio through significant new positions in the artificial intelligence and aviation sectors, according to second-quarter 13F filings.

In the AI infrastructure space, Appaloosa initiated a position in CoreWeave, acquiring over 1 million shares. CoreWeave is a neocloud provider specializing in high-performance GPU capacity for AI workloads. While the company reported a year-over-year backlog growth of 246% to $104 billion, it also carries over $50 billion in total debt, including operating leases, to fund its data center expansion. Tepper also increased his stake in Meta Platforms.

Simultaneously, the fund expanded its presence in the aviation industry. Appaloosa opened a position of 7.5 million shares in American Airlines and acquired 800,000 shares of Boeing. These moves follow previous successful investments in Micron Technology. Other major investors, including Berkshire Hathaway and the Duquesne Family Office, also showed increased interest in airline stocks during the same period.