Philippe Laffont Sells Amazon, Buys Nvidia-Backed AI Stock CoreWeave Up 230% This Year

Billionaire Philippe Laffont sold 596,100 shares of Amazon, trimming his stake 5%, and bought 3.3 million shares of CoreWeave, an AI stock backed by Nvidia, which is up 230% since going public. CoreWeave is the leader among emerging cloud computing platforms designed specifically for artificial intelligence. Laffont's decision to sell Amazon stock does not reflect a lack of conviction, as Amazon is still his third-largest position.

Billionaire Philippe Laffont, portfolio manager at Coatue Management, recently made significant moves in his investment portfolio. In the second quarter of 2025, Laffont sold 596,100 shares of Amazon (AMZN), trimming his stake by 5%. Simultaneously, he acquired 3.3 million shares of CoreWeave Inc. (CRWV), an AI stock backed by Nvidia (NVDA). These transactions highlight Laffont's strategic approach to portfolio management and his confidence in the long-term potential of CoreWeave.

Amazon, the world's largest e-commerce and cloud computing company, continues to perform strongly. In the second quarter, Amazon reported revenue growth of 13% to $167 billion, driven by robust growth in advertising and cloud services. The company's operating margin expanded by 1.5 percentage points, and GAAP net income increased by 33% to $1.68 per diluted share. Wall Street estimates Amazon's earnings will grow by 18% annually over the next three years, making the current valuation of 34 times earnings seem fair. Despite this positive performance, Laffont chose to sell his Amazon shares, likely to rebalance his portfolio after the stock's strong performance in the second quarter.

CoreWeave, on the other hand, has been recognized as a technology leader in cloud artificial intelligence services. The company benefits from a close relationship with Nvidia and has been expanding its AI infrastructure offerings. CoreWeave's stock has surged by 230% since its March IPO, driven by its strategic acquisitions and partnerships. In October 2025, CoreWeave announced the acquisition of Monolith AI Limited, a company recognized for its AI and ML applications in engineering and physics. Additionally, CoreWeave deepened its partnership with OpenAI through a multi-year infrastructure contract reportedly worth up to $6.5 billion. These moves have positioned CoreWeave as a critical player in the AI cloud ecosystem.

Laffont's decision to buy CoreWeave stock reflects his belief in the company's long-term growth potential. CoreWeave's revenue surged 207% to $1.2 billion in the second quarter, and its non-GAAP operating income increased by 135% to $200 million. The company's revenue backlog jumped 86% due to expanded contracts with OpenAI and an unnamed hyperscale customer. CoreWeave's close partnership with Nvidia affords the company early access to the latest GPUs, further enhancing its competitive advantage. Despite the substantial debt incurred during its rapid expansion, CoreWeave's aggressive growth strategy appears to be paying off.

In conclusion, Philippe Laffont's strategic rebalancing of his portfolio reflects his confidence in the long-term potential of CoreWeave. While Amazon continues to perform strongly, Laffont's decision to sell his shares and buy CoreWeave stock indicates his belief in the AI cloud provider's ability to capitalize on the growing demand for high-performance compute. As investors, it is essential to monitor CoreWeave's debt levels and its ability to manage its aggressive growth strategy effectively.