10 Best Stocks to Buy According to Billionaire Ray Dalio

2. NVIDIA Corporation (NASDAQ:NVDA)

Total Number of Shares Owned: 6,556,193

Total Value of Shares Owned: $809,952,083

Number of Hedge Fund Investors: 179

NVIDIA Corporation (NASDAQ:NVDA) landed in the 2nd spot in our list of the 10 best stocks to buy according to billionaire Ray Dalio. NVIDIA Corporation (NASDAQ:NVDA)’s strong outlook is driven by its impressive financial results and its key role in the fast-growing artificial intelligence (AI) market. In Q2 2024, NVIDIA Corporation (NASDAQ:NVDA) reported $16.6 billion in revenue, a remarkable 88% increase from the previous year, and net income of $6.5 billion. A big part of this growth came from its data center business, which earned $11.2 billion—up 138%—as more companies invest in AI technologies.

NVIDIA Corporation (NASDAQ:NVDA) has established itself as a leader in AI and machine learning, with increasing demand for its graphics processing units (GPUs) specifically for AI applications. NVIDIA Corporation (NASDAQ:NVDA) has formed partnerships with major cloud providers to enhance their AI capabilities, which further solidifies its position in the tech industry. Recent product launches, including the Hopper architecture tailored for AI workloads, showcase NVIDIA’s commitment to innovation. Moreover, its collaborations with leading firms to develop AI-driven applications and efforts to expand manufacturing capacity highlight NVIDIA Corporation (NASDAQ:NVDA)’s proactive strategy to meet growing demand.

Bridgewater’s stake in NVIDIA Corporation (NASDAQ:NVDA) consists of 6,556,193 shares, worth $810 million.