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Tiger Global Management’s billionaire chief, Chase Coleman, drastically reduced his stake in Uber Technologies by 94% during the quarter ending March 2024, selling 2,446,700 shares. This significant sell-off comes amidst rising competition in the ride-sharing space, particularly from Lyft, which has turned profitable under new CEO David Risher. Coleman also appears to be anticipating challenges from emerging robotaxi services by Alphabet’s Waymo and Tesla.
In contrast, Coleman increased his investment in Microsoft by purchasing 896,700 shares during the same period, enhancing the stake by 17%. Microsoft’s position in the cloud computing and quantum computing markets is notable; the global quantum computing market is projected to surge from $1.16 billion in 2024 to $12.62 billion by 2032, positioning Microsoft as a key player in this evolving sector.
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