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billionaire Philippe Laffont

The Motley Fool

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Billionaire Philippe Laffont Sold 72% of Coatue's Stake in Nvidia and Is Piling Into This Historically Cheap Dual-Industry Leader

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Philippe Laffont's hedge fund has shed nearly three-quarters of its Nvidia stake in 15 months .

The fund added 702,235 shares to Coatue Management's existing position in Amazon (NASDAQ: AMZNN) Amazon is the fund's second -largest holding by market value behind only Meta Platforms .

While Nvidia 's shares have increased by nearly 750% since the start of 2023 , the company tacked on $2.7 trillion in market value.

AWS accounted for 33% share of global spend for cloud infrastructure service platforms in the June-ended quarter .

Amazon recently landed an 11-year streaming rights deal with the NBA and WNBA , and is the exclusive streaming partner of the NFL 's Thursday Night Football.

With a valuation that's more compelling than, arguably, any point in its publicly traded existence, Amazon has the tools and intangibles needed to outpace Nvidia .

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