"Alphabet reported Q4 2025 revenue of $113.83 billion, with Google Cloud growing 48% year-over-year to $17.7 billion. CEO Sundar Pichai highlighted that "annual revenues exceeded $400 billion for the first time" and that "the launch of Gemini 3 was a major milestone." Alphabet is guiding for $175-185 billion in CapEx for 2026, almost entirely focused on AI infrastructure. The stock trades at 28x trailing earnings with an analyst target of $373."
"Tepper founded Appaloosa Management in 1993 and built one of the most impressive track records in hedge fund history. Known for bold, concentrated macro bets, his moves during the 2008 financial crisis cemented his reputation as a contrarian willing to bet big. When he shifts his portfolio this dramatically, it's worth understanding why. Tepper's most interesting buy might be Micron. The fund previously held 500,000 shares, but increased its Micron holdings to 1.5 million."
David Tepper concentrated Appaloosa Management's portfolio on AI infrastructure by substantially increasing positions in Alphabet, Micron Technology, and Meta Platforms while trimming Alibaba and Amazon. Appaloosa raised its Alphabet stake to nearly 1.8 million shares, a 29% increase, as Alphabet reported Q4 2025 revenue of $113.83 billion and guided $175-185 billion in 2026 CapEx focused on AI infrastructure. Appaloosa increased Micron holdings from 500,000 to 1.5 million shares, a 200% jump, with Micron shares up 33% year-to-date. Tepper founded Appaloosa in 1993 and is known for bold, concentrated macro and contrarian bets.
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