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Philippe Laffont’s Coatue Management Adjusts AI Investments
Coatue Management, led by billionaire Philippe Laffont, reduced its stakes in several major AI companies in Q3, including a 62% decrease in CoreWeave, 15% in Tesla, and 14% in Nvidia. This change reflects a general investor caution regarding AI valuations and macroeconomic pressures.
Coatue’s Q3 13F filing revealed new positions in two high-profile IPOs: Klarna, with 330,000 shares, and Figma, where it holds over 3.2 million shares. Klarna trades at about four times forward revenue, while Figma currently has a market capitalization of $18 billion but remains unprofitable.
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