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Tiger Global adds to Intel stake after Q2 portfolio moves
The hedge fund increased its Intel position by about 2.6 million shares in the second quarter, lifting the holding to roughly $593 million as of June 30.
Tiger Global Management adjusted its portfolio in the second quarter, adding new positions in companies including Cerebras Systems and Applied Digital while exiting Zscaler, according to a filing reviewed by Yahoo Finance.
The most notable change was in Intel, where Tiger Global added about 2.6 million shares to its holdings. That pushed its total Intel stake to approximately 4.25 million shares, valued at roughly $593 million as of June 30, based on the latest 13F filing reviewed by Yahoo Finance.
Intel is also in the middle of a strategic pivot, with the company working to grow AI compute demand, improve manufacturing execution, and expand its foundry business, Yahoo Finance noted. The outlet also pointed to improving results, saying Intel reported 25% year-over-year revenue growth to $16.1 billion in Q2, with its Data Center and AI business growing even faster.
Despite the operational momentum, Yahoo Finance flagged valuation questions after Intel stock’s rebound over the past year. It said Intel trades around $91, down about 36% from its 52-week high of $142.35, while still near roughly 102.9 times forward earnings and 9.2 times sales.