Billionaire David Shaw’s Quant Models Love These 5 Stocks

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175
D.E Shaw’s Stake Value: $1.82 Billion
Percent of Portfolio: 1.85%

NVIDIA Corporation (NASDAQ:NVDA) remains one of Shaw’s top quantitative investing stocks owing to the 200% plus rally, year to date. The stock has affirmed the billionaire investors bet on the technology sector as it has become the poster child of the semiconductor industry.

NVIDIA Corporation (NASDAQ:NVDA) has emerged as a critical player in the AI race owing to solid demand for its graphics processing unit, which supports and powers the technology. The company delivered a 100% increase in revenue to $13.5 billion in the second quarter, attributed to strong demand for its chips amid increased AI chips. Likewise, Shaw has benefited from the 200% rally, having bolstered stakes in the company from $360 million in the first quarter to over $1.8 billion.

By the end of Q2 2023, NVIDIA Corporation (NASDAQ:NVDA) had attracted the interest of many hedge funds that Insider Monkey monitored. Out of the 910 hedge funds in their database, 175 of them had stakes in the company. This shows that NVIDIA Corporation (NASDAQ:NVDA) is a highly valued and sought-after stock among hedge fund investors.

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