5 Biggest AI Companies In The World

4. NVIDIA Corporation (NASDAQ:NVDA)

Market Capitalization: $431 Billion    

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. On November 16, NVIDIA revealed its multi-year partnership with Microsoft, an American multinational technology corporation, to build one of the world’s most powerful cloud-based Artificial Intelligence supercomputers. This supercomputer will be powered by Microsoft Azure’s advanced supercomputing infrastructure combined with NVIDIA GPUs.

On December 9, Deutsche Bank, a German-based bank, revealed that it is using NVIDIA’s AI and machine learning platform for future growth potential. By supercharging the bank’s daily operation with AI acceleration through the cloud, they will be able to develop new data-driven products and services with improved efficiency in addition to opening up more working opportunities for professionals and talents. Using NVIDIA’s range of AI applications, the AI developers in the bank’s IT infrastructure will be able to build and run AI workflows on both on-premises data centers and Google Cloud powered by the NVIDIA AI Enterprise suite of software.

On November 17, Needham analyst Rajvindra Gill maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) stock and raised the price target to $200 from $155, noting that the company’s third quarter results were solid with data center revenue outlook slightly higher despite weakening China data center sales and H100 adoption accelerating.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in NVIDIA Corporation (NASDAQ:NVDA) with 19.2 million shares worth more than $2.3 billion.  

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them was large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over consumer health, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…(read more)