5 Best Technology Stocks to Buy According to Giant Quant Hedge Fund

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175
Renaissance Technologies Equity Stake: $785 Million

Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company that provides graphics computing and networking solutions. The company offers GeForce graphics processing units for use in gaming and PCs. The GPUs are in high demand amid the artificial intelligence revolution, helping the company generate record revenues and earnings.

With NVIDIA Corporation (NASDAQ:NVDA) emerging as the poster child of the AI hype, the stock is up by more than 195% for the year, propelling it into a trillion-dollar company. It has also emerged as one of the best technology stocks to buy, according to the giant quant hedge fund for exposure in the semiconductor sector. The quant hedge fun increased its stakes in the company to $785 million as of the end of the second quarter from $882,000 as of the first quarter. 

NVIDIA Corporation (NASDAQ:NVDA) was a popular choice among 175 hedge funds in Q2 2023, out of 910 hedge funds tracked by Insider Monkey. The firm’s most notable investor was Zevenbergen Capital Investments, which held about 655,435 shares worth $285.11 million in the company.

Follow Nvidia Corp (NASDAQ:NVDA)

[/company-follow-email]