David Tepper Invests Heavily in CoreWeave and SpaceX, Focusing on AI Infrastructure
David Tepper's Appaloosa Management has made significant investments in two companies—CoreWeave (CRWV) and SpaceX—that are addressing the infrastructure challenges of artificial intelligence. The firm added $107 million worth of CoreWeave stock and $38 million in SpaceX to its portfolio during Q2 2026, signaling a strategic shift toward AI's foundational layer rather than just end-user platforms like Amazon or Alphabet. CoreWeave provides high-performance computing for AI development and has seen explosive demand. The company reported second-quarter revenue of $2.58 billion with an impressive backlog exceeding $104 billion as of June 30, up from the previous quarter. However, meeting this demand requires substantial capital investment—$9.4 billion in Q2 alone—with plans to spend between $35 billion and $39 billion on infrastructure for 2026. Tepper's bet is not only about AI compute but also physical logistics through SpaceX’s Starlink satellite internet service, which supports data transmission needs critical for large-scale AI operations. Both investments reflect a belief in the long-term value of building out scalable and reliable infrastructure to support an expanding AI ecosystem.
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Topics: AI Appaloosa Management CoreWeave David Tepper Infrastructure SpaceX