Duquesne Family Office exited its entire Alphabet position in the first quarter of 2026 and redeployed capital into three AI hardware “picks-and-shovels” names. SanDisk was positioned for NAND flash used in AI inference workloads, with Q3 FY26 revenue of $5.95B and datacenter revenue of $1.47B. Micron was positioned for DRAM and HBM, with Cloud Memory Business Unit revenue of $5.28B and 66% gross margin, alongside guidance for $18.70B revenue and $8.42 non-GAAP EPS. Seagate was positioned for high-capacity HDD storage for training data and model checkpoints, supported by its HAMR-based Mozaic platform qualified with major cloud customers.
"Stanley Druckenmiller's Duquesne Family Office exited its entire Alphabet position in the first quarter of 2026 and rotated the capital into three AI hardware "picks-and-shovels" names: SanDisk, Micron Technology, and Seagate Technology, according to recently reported 13F filings."
"SanDisk (NAND flash). The Q3 FY26 report was the giveaway. Revenue hit $5.95B versus $4.73B estimates, up 251% YoY, with datacenter revenue of $1.47B, up 645% YoY. CEO David Goeckeler called it "a fundamental inflection point" as the mix shifts toward AI inference workloads that demand high-speed NAND."
"Micron (DRAM and HBM). Cloud Memory Business Unit revenue reached $5.28B, nearly doubling YoY at a 66% gross margin. Q2 FY26 guidance points to $18.70B in revenue and $8.42 in non-GAAP EPS. As CEO Sanjay Mehrotra put it, Micron is "an essential AI enabler" and the only U.S.-based memory manufacturer."
"Seagate (high-capacity HDD). Training data and model checkpoints have to live somewhere cheap. Seagate's HAMR-based Mozaic platform is qualified with five of the world's largest cloud customers, and Q3 FY26 free"
Read at 24/7 Wall St.
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