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Philippe Laffont’s Portfolio Moves in Q2
Billionaire investor Philippe Laffont, portfolio manager at Coatue Management, sold 596,100 shares of Amazon (NASDAQ: AMZN), reducing his stake by 5%. In contrast, he acquired 3.3 million shares of CoreWeave (NASDAQ: CRWV), now his largest holding at 8% of his portfolio. CoreWeave’s stock has surged 230% since its IPO earlier this year.
Amazon’s Market Position
During the second quarter, Amazon reported revenue of $167 billion, a 13% increase, with a GAAP net income of $1.68 per diluted share, reflecting a 33% rise from the previous year. The company controls over 40% of U.S. e-commerce sales and 30% of cloud infrastructure spending.
CoreWeave’s Rapid Growth
CoreWeave reported a remarkable 207% revenue surge to $1.2 billion in Q2, with a non-GAAP operating income of $200 million. Its revenue backlog rose 86% due to expanded contracts with major clients like OpenAI. However, the company carries substantial debt, primarily from its rapid expansion in AI data centers.
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