Artificial Intelligence (AI) visionary Sam Altman has dominated the tech world over the past couple of years. He shot to fame following OpenAI’s release of its groundbreaking large language model, ChatGPT, in late 2022.
Since then, ChatGPT has become ubiquitous, with Altman becoming synonymous with all things AI. Though OpenAI made Altman famous, his investments in other tech companies have made him a billionaire. With him pocketing millions through share price gains over the years, investing in Sam Altman stocks has become crucial for the savvy investor.
Altman has been one of the most prolific stealth investors, boasting a stake in more than 125 companies since 2010. He’s linked to a web of investment vehicles, including Apollo Projects, Hydrazine Capital, Altman Capital and the OpenAI Startup Fund. Hence, there’s no need to shed tears here over him not holding any equity in OpenAI.
Let’s look at three Sam Altman stocks you should invest in now.
Reddit (RDDT)
Social media aggregator Reddit (NYSE:RDDT) had one of the biggest IPOs in recent memory. Its stock sale had investors losing their minds, which ended with it being oversubscribed by five times. Consequently, shares shot up 48% on its first trading day, much to the delight of new and old company investors.
Sam Altman, in particular, pocketed a nifty $200 million gain following Reddit’s bombastic first day, taking its take to more than $613 million. To put things in perspective, he’s one of Reddit’s largest investors, with almost a 7.6% control of outstanding shares. Moreover, he’s been involved with Reddit since 2014, serving on its board until January 2022, noting how he’s used the service daily for nine years.
Nonetheless, RDDT stock is down more than 30%, attracting conflicting analyst opinions. No matter which side you find compelling, it’s tough to deny Reddit’s relevancy since its inception.
Airbnb (ABNB)
Airbnb (NASDAQ:ABNB) continues to revolutionize travel by significantly expanding global lodging options and facilitating short-term home rentals.
Sam Altman was among the early investors in the company, wagering $100,000 in the business back in 2008. Moreover, he’s been buddies with the company’s co-founder and Chief Executive Officer (CEO) Brian Chesky. The two have been close confidants, having consulted on different projects. Moreover, Chesky stood on the frontlines defending Altman following his dismissal as OpenAI’s CEO last year.
The details about its current investment status in ABNB are scant. But it’s likely to have paid off substantially. ABNB had its IPO four years ago and popped 113% on its trading day to $146. Moreover, it was the largest IPO in the market that year, raising a whopping $3.5 billion in investment.
Over the years, Airbnb has operated an efficient business, growing its top and bottom line by sizeable margins. Additionally, it has been ticking in the green in the past six months, generating over a 42% return.
Uber Technologies (UBER)
Like with Airbnb, Altman was one of the early investors in ride-hailing giant Uber Technologies (NYSE:UBER). He has invested $100,000 in Uber during the formative years of app-based ride-sharing platforms, believing in the sector’s disruptive potential.
Moreover, he’s been a huge fan of the platform over the years, having supported it for both its product and business model. Furthermore, despite the concerns over Uber’s operational dynamics, it has proven to be an excellent business over the years.
Moreover, its coming off a superb quarter, where gross bookings have risen 22% to $37.6 million, blowing past estimates of $37.2 billion. With a 21% year-over-year (YOY) increase in gross bookings, the company’s revenues shot up 15.1% to $9.9 billion, beating consensus estimates by $174 million. Consequently, we’ve seen UBER stock take off, rising roughly 70% in the past six months. It is poised for robust long-term gains as it evolves.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
