Coatue Management Opens New Position in AMD Stock. View This as a Renewed Bet on the AI Trade.

Hedge fund manager Philippe Laffont’s Coatue Management just made a fresh bet on Advanced Micro Devices (AMD). New 13F filing data shows the firm opened a brand new position in AMD stock during the second quarter. Coatue bought 95,987 shares of AMD stock, worth about $55.8 million as of the June 29 filing date. The AMD position sits inside a much bigger pattern. Coatue Management also opened new positions in SpaceX (SPCX), Intel (INTC), Cerebras Systems (CBRS), Hut 8 (HUT), and several other companies tied to artificial intelligence (AI) infrastructure. Basically, Coatue is loading up on the AI trade across…