10 Best Metaverse Stocks To Buy According to Hedge Funds

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 179

NVIDIA Corporation (NASDAQ:NVDA) is a designer of graphics processing units (GPUs) for PCs and game consoles. The firm made the metaverse real when it released Omniverse to open beta in December 2020 and NVIDIA Omniverse Enterprise in November 2021. NVIDIA Omniverse is the world’s first simulation and collaboration platform delivering the foundation of the metaverse. It enabled designers, artists, and reviewers to work together in real time across software applications in a shared virtual world from anywhere.

Commenting on the major development, Jon Peddie, founder of Jon Peddie Research, stated:

“Lots of companies are, and have been, talking about the metaverse, but NVIDIA is one of the few that is actually delivering on its promise. NVIDIA brings a broader understanding of the needs of designers of all types and has many of the tools they can use — for free. The NVIDIA Omniverse platform has the potential to transform nearly every industry by making truly collaborative, creative innovation possible in a common virtual space for the first time.”

Later in August 2023, NVIDIA made updates to Omniverse Kit,  the engine for developing native OpenUSD applications and extensions, and to the NVIDIA Omniverse Audio2Face foundation app and spatial-computing capabilities. The firm has also partnered with tech giants such as Microsoft to bring the industrial metaverse and AI to hundreds of millions of Microsoft enterprise users via Azure Cloud.

For the second quarter fiscal 2025, NVIDIA Corporation (NASDAQ:NVDA) posted record quarterly revenue of $30 billion, up 122% as compared to the one year ago. GAAP earnings per diluted share were up 168% year-over-year. Meanwhile, the firm witnessed record Data Center revenue of $26.3 billion, up 154% year-over-year.

Therefore, NVIDIA Corporation (NASDAQ:NVDA) has been a major player in the metaverse space considering the developments it has undertaken. The stock ranks among other best metaverse stocks and is held by 179 hedge funds, as of 2024’s second quarter.