In this article, we will take a glance at the five best artificial intelligence (AI) stocks to acquire according to hedge funds. For more top AI stocks, head on over to 12 Best Artificial Intelligence (AI) Stocks To Buy According to Hedge Funds.
- NVIDIA Corporation (Nasdaq:NVDA)
Number of Hedge Fund Investors In Q2 2023: 178
NVIDIA Corporation (Nasdaq:NVDA) is a Santa Clara, California-based chip manufacturing company that was incorporated in 1993. It offers graphics process units, chips, and other computer hardware products. NVIDIA Corporation (Nasdaq:NVDA) utilizes artificial intelligence (AI) to develop machines from other suppliers. Its chips have a rising demand globally and it recently touched $1 trillion in market capitalization.
Insider Monkey took a look at hedge fund portfolios for NVIDIA Corporation (Nasdaq:NVDA) second quarter of 2023 investments and found out that 178 had a stake in the company. Citadel Investment was its biggest shareholder which has roughly 21.4 million shares for about $9 billion of NVIDIA Corporation (Nasdaq:NVDA).
- Alphabet (Nasdaq:GOOG, GOOGL)
Number of Hedge Fund Investors In Q2 2023: 366
Alphabet is one of the five best artificial intelligence (AI) stocks according to hedge funds that has literally transformed technological adoption and implementation. The Mountain View, California-based Alphabet (Nasdaq:GOOG, GOOGL) offers different products and services including Google Maps, Google Play Store, Cloud, etc. Its investment in artificial intelligence (AI) is one of its core strategies for the future as its DeepMind unit is utilizing AI to provide exceptional services. According to CNBC, Alphabet (Nasdaq:GOOG, GOOGL) has contracted with Scale AI, the $7.3 billion startup to test AI tools.
Insider Monkey took a look at hedge fund portfolios of Alphabet (Nasdaq:GOOG, GOOGL) for their second quarter of 2023 investments and found out that 366 had a stake in the company. The firm’s largest investor is Harris Associates which owns roughly 26.9 million shares for about $3.2 billion of Alphabet (Nasdaq:GOOG, GOOGL).
- Meta Platforms (Nasdaq:META)
Number of Hedge Fund Investors In Q2 2023: 230
Meta Platforms, Inc. (Nasdaq:META) has revolutionized technological advancements by offering advanced products and services with continuous improvement and product development. Meta Platforms, Inc. (Nasdaq:META) is creating a highly advanced and best artificial intelligence (AI) tool than its current Llama 2 and expects to roll it out in 2024, The Wall Street Journal reported. Meta Platforms, Inc. (Nasdaq:META) Llama 2 model competes against the likes of OpenAI’s ChatGPT and Alphabet (Nasdaq:GOOG, GOOGL) Google’s Bard.
Insider Monkey took a look at hedge fund portfolios for their second quarter of 2023 investments and found out that 230 had a stake in the company. Citadel Investment was the firm’s largest shareholder which owns roughly 19.5 million shares for about $5.6 billion of Meta Platforms, Inc. (Nasdaq:META).
- Amazon.com Inc. (Nasdaq:AMZN)
Number of Hedge Fund Investors In Q2 2023: 283
Amazon.com, Inc. (Nasdaq:AMZN) is empowering the e-commerce sector with its best artificial intelligence (AI) service offering. Its Amazon Web Service offers different artificial intelligence (AI) services across multiple categories including computer vision, automated data extraction and analysis, and language AI. Amazon.com, Inc. (Nasdaq:AMZN) utilized AI-generated tools to write and list product descriptions to enhance customers’ understanding. Its Amazon Lex AI has advanced natural language models.
Insider Monkey took a look at hedge fund portfolios for Amazon.com, Inc. (Nasdaq:AMZN) second quarter of 2023 investments and found out that 283 funds had a stake in the company. Citadel Investment was the firm’s largest shareholder owning roughly 33.8 million shares for about $4.4 billion of Amazon.com, Inc. (Nasdaq:AMZN).
- Microsoft Corporation (Nasdaq:MSFT)
Number of Hedge Fund Investors In Q2 2023: 310
Microsoft Corporation (Nasdaq:MSFT) is one of the largest companies in the world headquartered in Redmond, Washington. It offers software services globally. Its Azure OpenAI tool provides businesses and individuals with high-quality AI models including GPT-3.5, Codex and DALL∙E 2. Microsoft Corporation (Nasdaq:MSFT) is led by Chairman and CEO Satya Nadella. Microsoft Corporation (Nasdaq:MSFT) is valued at about $2.4 trillion as of Sept. 20, 2023.
Insider Monkey took a look at hedge fund portfolios for their second quarter of 2023 investments and found out that 310 had a stake in the company. Bill & Melinda Gates Foundation Trust was the firm’s largest shareholder which owns about 39.3 million shares for $13.4 billion of Microsoft Corporation (Nasdaq:MSFT).
