10 Best AI Stocks to Buy for 2024 According to Billionaire David Tepper

3. Microsoft Corp (NASDAQ:MSFT)

Billionaire David Tepper Q1’2024 Stake Value: $589,008,000

Microsoft Corp (NASDAQ:MSFT) accounts for about 8.71% of billionaire David Tepper’s Q1 portfolio as of the end of the first quarter of 2024, as the fund owns a $589 million stake in Microsoft Corp (NASDAQ:MSFT) that has become the go-to AI name in the industry, thanks to its market-leading and proactive position in the AI race. After making huge strides on the software side of AI, Microsoft Corp (NASDAQ:MSFT) recently announced AI-ready PCs. Morgan Stanley said in a note that these PCs could spark a new refresh cycle in the PC industry.

Morgan Stanley expects AI PCs to account for about 65% of the total PC market by 2028.

Vulcan Value Partners stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its first quarter 2024 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) is the world’s largest software company with a broad range of offerings including Microsoft office, gaming, Azure cloud computing, LinkedIn, and more. It was a material contributor for the second consecutive quarter, and we discussed it at length in last quarter’s letter. The company continues to execute well.”