5 Best Stocks to Buy According to Billionaire D.E. Shaw

3. NVIDIA Corp (NASDAQ:NVDA)

DE Shaw’s Stake: $1,861,273,475

De Shaw increased its hold in NVIDIA Corp (NASDAQ:NVDA) by 14% during the fourth quarter of 2023. DE Shaw has been holding a stake in NVIDIA Corp (NASDAQ:NVDA) for several years now but really started to boost its position in the GPU company in 2018.

Baron Fifth Avenue Growth Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 2023 investor letter:

“Most of our portfolio companies have seen stabilization and modest improvements in short-term business fundamentals as the year progressed. More importantly in our view, many have been able to drive significant improvement in long-term Key Performance Indicators (KPIs) such as share gains, meaningful expansion of their total addressable market, and improvement in unit economics. These KPIs are significantly more important in driving the intrinsic values of our businesses, which we believe have increased noticeably during 2023. In the meantime, disruptive changes that we expect will benefit many of our businesses have also continued to pick up steam. Some examples include: • The inflection in GenAI: While a company like NVIDIA Corporation (NASDAQ:NVDA) is a clear beneficiary of GenAI, as its hardware and software solutions are used to train and run GenAI models, we believe that GenAI has the potential to benefit many of our other businesses as well.”