: Dan Loeb’s Third Point wagers on Nvidia, Amazon, Uber with new positions

All three were new positions for Third Point relative to the first quarter. The Uber stake was worth $120 million based on closing levels as of the end of the second quarter, while the Amazon position was worth $535 million then and the Nvidia position was worth $212 million.

Opinion: How Uber pulled off its stunning turnaround from money pit to cash machine

Loeb’s entity also built fresh positions in Fidelity National Information Services Inc.
FIS,
-0.53%,
with the purchase of 300,000 shares, as well as Taiwan Semiconductor Manufacturing Co. Ltd.
TSM,
+1.17%,
with the purchase of 2.45 million shares. The FIS position was worth $16.4 million as of the end of the second quarter, while the TSMC stake was worth $247 million.

The filing showed that Third Point added a position in Activision Blizzard Inc.
ATVI,
-0.46%
amounting to 1.65 million shares as of the end of the second quarter. That was worth $139.1 million by the period’s end.

Third Point boosted its holdings of Advanced Micro Devices Inc.
AMD,
+4.10%
by 20% to 1.2 million shares, which were worth $136.7 million as of the quarter’s end. Loeb’s investment company also increased its Alibaba Group Holding Ltd.
BABA,
-2.36%
position by 122% to 2.95 million shares that were worth $245.9 million as of the end of the period.

See also: Tepper’s Appaloosa places big bets on Apple and AI chipmakers Nvidia and AMD, while dropping Tesla

Third Point held 1.52 million Microsoft Corp. shares
MSFT,
+0.94%
worth $517.6 million as of the end of the second quarter, with its share position up 45%. It boosted its Micron
MU,
+6.07%
position by 29% to 1.55 million shares that were worth $97.6 million.

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