Billionaire David Tepper's Appaloosa Fund nearly doubled Amazon stake and more than tripled Uber position in Q1, while adding Sandisk to its portfolio.

Tepper purchased 2,140,609 Amazon shares (a 98% increase in the fund's stake), 4,482,720 Uber shares (a 242% increase from Dec. 31, 2025), and 281,250 Sandisk shares as a new position during the March-ended quarter, following Form 13F filings on May 15.

Amazon Web Services (AWS), the fund's No. 1 position, is the No. 1 worldwide cloud-based spend platform and has reaccelerated sales growth by integrating generative AI and large language model (LLM) capabilities. Uber relies heavily on AI to optimize routes, match riders with drivers, and dynamically price services, while Sandisk benefits from demand for NAND flash memory and solid-state drives in AI data center infrastructure.

Straits Research forecasts the global ride-sharing market will grow from $87.7 billion to $918.2 billion between 2025 and 2033, and Uber controls around three-quarters of the U.S. ride-sharing market. Since September 2025, Sandisk's fiscal 2027 earnings per share estimates have risen from less than $10 to more than $171, with the stock trading at a forward price-to-earnings ratio of just 8 despite soaring 3,370% over the trailing year.