Billionaire investor David Tepper's Appaloosa Management disclosed a new position in Broadcom (AVGO), a key supplier for AI infrastructure. According to its latest 13F filing, the fund established a stake of 150,000 shares valued at approximately $56.66 million. It's important to note that these filings reflect positions held as of June 30, 2026, and were publicly disclosed on August 14.
The investment in the semiconductor giant was part of a broader portfolio adjustment during the second quarter. Tepper reallocated capital towards companies central to the AI buildout, initiating this new stake in Broadcom while also trimming exposure to memory chip makers like Micron and exiting SanDisk entirely. Broadcom designs custom AI chips and high-speed networking components for major hyperscale customers.