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Philippe Laffont’s Investment Moves in AI Sector
Billionaire hedge fund manager Philippe Laffont of Coatue Management has made CoreWeave his largest holding, while entirely selling off his stake in Super Micro Computer during the second quarter of 2023. Wall Street forecasts that CoreWeave’s revenue will grow at an annual rate of 90% through 2027.
CoreWeave reported a robust revenue increase of 134% in its third quarter, benefiting from partnerships with tech giants like OpenAI and Meta Platforms. The company’s median target price is set at $157.50 per share, suggesting a 59% upside from its current price of $99. In contrast, Super Micro has seen a decline in gross margins and has a median target price of $46.50, indicating only 16% upside potential from its current price of $40.
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