Coatue Invests Nearly 23% of Portfolio in Top AI Stocks
- Billionaire Philippe Laffont is making a massive, concentrated bet on the architecture powering the artificial intelligence boom.
- The firm’s public equity portfolio value reached $48.6 billion at the end of the second quarter, marking a sharp jump from roughly $29 billion in the first quarter...
- Laffont, who trained under Julian Robertson at Tiger Management, built his largest positions around Taiwan Semiconductor Manufacturing, Micron Technology, and SpaceX.
Billionaire Philippe Laffont is making a massive, concentrated bet on the architecture powering the artificial intelligence boom. The founder of Coatue Management directed nearly 23% of his hedge fund’s approximately $48.6 billion portfolio into just three AI-related stocks as of the second quarter of 2026, regulatory filings show.
Coatue Pours 23 Percent of Portfolio Into AI Heavyweights
The firm’s public equity portfolio value reached $48.6 billion at the end of the second quarter, marking a sharp jump from roughly $29 billion in the first quarter of 2026. Rather than chasing consumer-facing software, Laffont’s playbook centers heavily on the semiconductor supply chain. Major holdings include Taiwan Semiconductor Manufacturing, Lam Research, Applied Materials, Micron Technology, and ASML.
Foundry Dominance Anchors the Strategy
Laffont, who trained under Julian Robertson at Tiger Management, built his largest positions around Taiwan Semiconductor Manufacturing, Micron Technology, and SpaceX.
Taiwan Semiconductor represented the fund’s largest artificial intelligence bet at 8.8% of the portfolio. During the first quarter of 2026, Counterpoint Research calculated that Taiwan Semiconductor held 73% of the third-party foundry market, rising from the 68% it recorded during the same period the previous year. A further $100 billion has been pledged by the manufacturing leader toward its Arizona fabrication campus, elevating the site’s cumulative projected outlay to $265 billion.
Explosive Expansion in Micron Technology
Coatue aggressively increased its stake in Micron Technology during the second quarter, boosting the position by 1,794% to more than $3.6 billion. The holding now accounts for roughly 7.5% of the fund.
Memory chips have emerged as a primary bottleneck in artificial intelligence data centers because graphics processing units require massive amounts of high-speed DRAM and NAND flash storage. Micron shares climbed approximately 197% through mid-August 2026. The company also signed 16 multiyear strategic customer agreements in its fiscal third quarter to generate at least $100 billion in revenue through 2030.
SpaceX and the Data Center Horizon
SpaceX rounds out the trio with a valuation close to $3.2 billion in Coatue’s portfolio.
The company has begun leasing artificial intelligence compute from its data centers and claims it can build and monetize those facilities faster than competitors. SpaceX asserted in its registration statement that its artificial intelligence unit has a total addressable market of $26.5 trillion, alongside plans to build a chip manufacturing complex named Terafab and deploy orbital data center satellites.
Productivity Gains and Agentic AI Thesis
In a CNBC interview in June 2026, Laffont explained his investment thesis by pointing to substantial productivity gains expected from agentic artificial intelligence technologies. These systems represent an evolution beyond standard chatbots capable of autonomously executing complex tasks.
Coatue manages roughly $90 billion in total assets across public and private strategies, holding approximately 66 investments focused primarily on artificial intelligence semiconductor supply-chain companies as of mid-August 2026.