Whale Rock Flagship Fund Plummets 21.7% in July, AI Bet's Year-to-Date Gains Nearly Halved

The fund previously held heavy positions in the chip and AI infrastructure sectors, with holdings including SanDisk, Bloom Energy, and CoreWeave, all three of which encountered the overall sell-off in the memory chip sector in July, with SanDisk dropping cumulatively 30% over the past month. Large tech stocks such as Google and Meta also experienced slight pullbacks, as market concerns over sustained high spending on AI intensified.