33 Most Important AI Companies You Should Pay Attention To

2. NVIDIA Corporation (NASDAQ:NVDA) 

Number of Hedge Fund Holders: 186 

YTD Return as of August 1: 168%

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. In addition to manufacturing world-class GPUs for AI, some of the other AI products of the firm include generative AI, cybersecurity AI, data analytics, conversational AI, and vision AI. The company also markets full stack innovation to turn any organization into an AI enterprise. In the fourth quarter of the fiscal year, the firm beat revenue estimates by a whopping $1.5 billion. The revenue grew by 262% year-on-year, and the non-GAAP earnings per share jumped from $0.88 to $5.16. The firm was able to deliver these numbers as it dominates the GPU market with 88% market share in the category.

Jensen Huang, the COO of NVIDIA Corporation (NASDAQ:NVDA), said during the first quarter earnings call that the industry was going through a major transformation as companies shifted from an existing trillion-dollar traditional data center base to AI data centers. Huang detailed that beyond cloud service providers, generative AI had expanded to consumer Internet companies and enterprise, sovereign AI, automotive, and healthcare customers, creating multiple multibillion-dollar vertical markets.