4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 179
NVIDIA Corporation (NASDAQ:NVDA) powers some of the leading AR and VR devices globally. For instance, NVIDIA Cloud RX delivers VR and AR experiences over 5G and Wi-Fi networks, enabling users to stream AR content wirelessly. NVIDIA Corporation (NASDAQ:NVDA) is also advancing technology to integrate AR into vehicles, with its NVIDIA Drive AR processor collecting data and displaying it to drivers through augmented reality.
Citi reaffirmed its Buy rating and $150 price target for NVIDIA Corporation (NASDAQ:NVDA) after the company announced a new service designed to enhance generative AI capabilities for enterprises. The new offering, NVIDIA AI Foundry, in collaboration with NVIDIA NIM inference microservices, leverages Meta’s openly available Llama 3.1 models. Additionally, analysts at Fundstrat Global Advisors predicted that NVIDIA Corporation (NASDAQ:NVDA)’s revenue could increase tenfold, potentially reaching $1 trillion by the end of the decade.
In Q1 2025, NVIDIA Corporation (NASDAQ:NVDA) reported a remarkable revenue of $26.0 billion, reflecting a 262% increase year-over-year. The company’s non-GAAP earnings per diluted share were $6.12, up 461% year-over-year. This impressive performance was largely driven by the Data Center segment, which achieved record revenue of $22.6 billion, representing a 23% increase quarter-over-quarter and a 427% increase year-over-year.
In the second quarter of this year, Insider Monkey’s research indicated that 179 out of 912 hedge funds held investments in NVIDIA Corporation (NASDAQ:NVDA). Among these, Rajiv Jain’s GQG Partners was one of the largest shareholders, with a $9.34 billion investment in the company.
Polen Focus Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2024 investor letter:
“In the second quarter, the dominant narrative in markets continued to be generative AI (GenAI). If it wasn’t immediately evident from NVIDIA Corporation’s (NASDAQ:NVDA) meteoric rise to among the largest companies in the world, one need only look so far as the Semiconductor and Technology Hardware industries as a gauge of sentiment, collectively accounting for greater than 70% of the Russell 1000 Growth (“the Index”) and 85% of the S&P 500 headline return quarter to date.
Our Portfolio has no exposure to NVIDIA or other Semiconductor companies currently benefiting from demand for foundational AI Hardware. The largest relative detractors in the quarter were NVIDIA, Apple, and Salesforce.
For the second quarter in a row, NVIDIA represented the top detractor to relative performance as the stock climbed another 37%, bringing the year-to-date return to +150%. As of this writing, NVIDIA is the third largest company in the world, but for a brief moment, it surpassed Microsoft to become the largest company in the world. Yet again, the company delivered blowout results that surpassed already lofty expectations, reinforcing the narrative that NVIDIA is the only obvious “AI winner” due to the amount of revenue it is currently generating.”
