Tiger Global trims big tech, exits Netflix, doubles Intel stake
Business
Tiger Global just made some bold moves with its investments.
The hedge fund trimmed its stakes in big names like Alphabet, Microsoft, Amazon, and Meta, and completely pulled out of Netflix.
But it's not all cutbacks. Tiger doubled down on Intel and jumped into new positions with chipmaker AMD and even SpaceX.
Tiger Global bought $392 million AMD stake
Here's the breakdown: Tiger cut its Alphabet shares by nearly half, reduced holdings in NVIDIA, Microsoft, Amazon, Meta, Broadcom, and TSMC, too.
Meanwhile, it more than doubled its Intel stake to 4.25 million shares, bought $392 million worth of AMD stock for the first time, and picked up 375,000 shares of SpaceX valued at approximately $64.1 million, all as of June 30.