Philippe Laffont, a billionaire hedge fund manager, made significant changes in his investments, selling shares of Nvidia and buying into CoreWeave during the first quarter. Nvidia leads in data center GPUs and has a booming AI networking and cloud services business. Meanwhile, CoreWeave, focused on AI workloads, has seen its stock soar 300% since its IPO.

Nvidia continues to report strong financial performance with a 69% increase in sales, fueled by high demand for AI infrastructure. Despite this, Laffont sold 1.4 million shares, possibly taking profits after a significant increase in value over the years. Nvidia remains a critical player in AI with potential for long-term growth, making it a valuable asset to hold.

CoreWeave stands out by providing AI-focused infrastructure and software services. Despite heavy costs and a reported net loss due to interest payments, its revenue jumped 420%. Laffont's purchase of CoreWeave was timely, and the stock's high valuation suggests caution for potential investors looking to buy shares.