Move Over Nvidia, Taiwan Semiconductor, and Micron. Brad Gerstner's Altimeter Capital Just Gave Investors 2,999,536 Reasons to Check Out the Hottest Artificial Intelligence (AI) IPO Stock of 2025

Core Investment Themes - Altimeter Capital has made AI stocks a core feature of its portfolio, recently trimming its stake in Nvidia and completely selling its stakes in Micron and Taiwan Semiconductor Manufacturing [2][4] - The fund holds a significant position in CoreWeave, an AI IPO stock, with 2,999,536 shares valued at approximately $489 million as of June 4 [3] Company-Specific Insights - CoreWeave is a cloud computing infrastructure provider that offers access to Nvidia GPUs and other chip integrations, allowing for a more nimble business model compared to traditional chip manufacturers [13] - The company is positioned to benefit from the growing demand for AI training and inferencing, filling the gap between chipset production and optimized AI cloud infrastructure [14] Market Dynamics - Nvidia controls over 90% of the data center GPU market, but faces risks from cloud hyperscalers developing custom AI chips and competition from Advanced Micro Devices [6][7] - Micron's memory storage chips are vital for various technologies, but the shift towards cloud-based AI infrastructure may pose challenges for its hardware-centric business [9] - Taiwan Semiconductor's business could be affected by decelerating sales growth from key customers and geopolitical pressures in Taiwan [10][11] Valuation Considerations - CoreWeave has experienced notable valuation expansion, with its price-to-sales (P/S) ratio significantly higher than that of established players like Oracle [17][18] - Current valuations suggest that CoreWeave may be overbought, indicating caution for potential investors despite its growth prospects [18]