Philippe Laffont’s Coatue Management unveiled a new position in Oracle, and doubled down on key synthetic intelligence beneficiaries Nvidia and Microsoft, because the tech rally got here again with a fury in the second quarter. Fund founder Laffont — generally known as one of many “Tiger Cub” fund managers that labored below the late investor Julian Robertson — disclosed a stake in enterprise software program firm Oracle that quantities to a greater than $843.3 million holding for the three months ending June, in response to the agency’s newest regulatory submitting. Oracle outperformed in the second quarter, surging greater than 56% on the power of its cloud infrastructure enterprise serving to purchasers function synthetic intelligence fashions. The inventory is up greater than 11% this quarter, so far. Laffont additionally doubled down on sure members of the Magnificent Seven names, including 34% to his Nvidia holding. The chip firm was the primary public firm to achieve a $4 trillion valuation as traders continued to be on the AI buildout; it rose greater than 45% in the second quarter alone. He additionally added to Microsoft, growing his holdings by 20%. The investor continued to wager on the AI buildout, beginning a $749.4 million position in Arm Holdings, a British semiconductor and software program design firm. He has a new allocation in Marvell Technology amounting to $602.4 million. Laffont expanded his allocations to a smattering of different chip names, together with Broadcom, which is a high 10 holding, and Lam Research. The investor continued to promote down his shares in key China tech corporations . He diminished his stake in Alibaba, for instance, by 77%. — CNBC’s Yun Li contributed to this report.