Tiger Global, Whale Rock, D1 hit by October AI selloff

Tiger Global, Whale Rock and D1 Capital Partners recorded losses in October after investors sold technology and semiconductor stocks. Tiger Global’s flagship fund fell 8.5%, Whale Rock’s flagship fund declined about 8% and D1’s equity portfolio lost 4.4%.

Tiger Global’s 2026 performance was roughly flat after the decline. Whale Rock’s year-to-date gain fell to about 34%, while D1 Capital’s annual return declined to 18.8%.

Atreides Management’s $3.4 billion flagship public-private investment fund fell 9.5% in October. It remained up about 43% for the year, supported by holdings in SpaceX and other privately held technology companies. The firm’s smaller hedge fund dropped 16%, reducing its 2026 gain to 2.5%.

Tiger Global’s smaller crossover fund declined 3.3% in October and was up 15.3% for the year.

The selloff followed investor concerns about the financing needed to build artificial intelligence infrastructure and uncertainty over when those investments would produce profits. Technology and semiconductor shares fell broadly during the month.

Selling continued into November. The Nasdaq Composite fell 5.5% on Thursday, Nov. 5, its largest one-day decline since April 2025, after the U.S. midterm elections.

Coatue Management’s flagship strategy gained 0.2% in October, bringing its year-to-date return to 13%.