Appaloosa Gains 32% in H1 2026 on AI Chip Rally

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According to Bloomberg, Appaloosa Management returned 32% in H1 2026, with all gains realized in the second quarter. The $23 billion hedge fund held approximately 40% of its assets in cash on average during the period. Top performing positions included Micron Technology, Samsung Electronics, SK Hynix, Kioxia Holdings, and SanDisk, which benefited from surging demand for AI computing chips and high-bandwidth memory used in AI accelerators.
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