3. NVIDIA Corporation (NASDAQ:NVDA)
Fisher Asset Management’s Stake Value: $2,798,969,000
Dividend Yield as of May 16: 0.06%
NVIDIA Corporation (NASDAQ:NVDA) is an American multinational tech company. At the end of Q1 2023, Fisher Asset Management owned over 10 million shares in the company, worth nearly $2.8 billion. The company represented 1.69% of the firm’s 13F portfolio.
On March 6, NVIDIA Corporation (NASDAQ:NVDA) declared a quarterly dividend of $0.04 per share, which was in line with its previous dividend. The stock’s dividend yield on May 16 came in at 0.06%.
NVIDIA Corporation (NASDAQ:NVDA) experienced a positive hedge fund sentiment in Q4 2022, as 106 funds in Insider Monkey’s database owned stakes in the company, up from 89 in the previous quarter. These stakes have a collective worth of over $6 billion.
Baron Funds mentioned NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter. Here is what the firm has to say:
“NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor mega-cap company and global leader in gaming cards and accelerated computing hardware and software. Shares of NVIDIA rose over 90% during the first quarter because of material developments in generative AI evidenced by the release of ChatGPT and other competitive models. On its fourth quarter fiscal 2023 earnings call on February 22, Colette Kress, NVIDIA’s CFO said, “AI adoption is at an inflection point.… The opportunity is significant and driving strong growth in data center that will accelerate through the year.” On the same call, Jensen Huang, NVIDIA’s CEO emphasized: “The accumulation of technology breakthroughs has brought AI to an inflection point. Generative AI’s versatility and capability has triggered a sense of urgency at enterprises around the world to develop and deploy AI strategies.… NVIDIA AI is essentially the operating system of AI systems today.… The activity around AI infrastructures…has just gone through the roof in the last 60 days. And so there’s no question that whatever our views [were] of this year as we enter[ed] this year has fairly dramatically changed as a result over the last 60, 90 days.” Indeed, our research indicates that shortages of NVIDIA GPUs3 are the biggest gating factor for AI adoption and that about 90% of AI-model training runs are performed on their GPUs. During its annual GTC conference4 in March, NVIDIA announced new products and services that expand its addressable market and together form a full AI computing platform. These included: (1) new AI training systems (where it is dominant) and inferencing systems (where the field is more wide open), such as specialized chips in the areas of large language models and recommender systems, simulation and graphics rendering, and video use cases; (2) new fully managed AI services in partnership with the major cloud service providers, called NVIDIA DGX Cloud and NVDIA Omniverse Cloud; (3) new domain-specific generative AI foundational models, branded NVIDIA AI Foundations, which NVIDIA customers can harness to build and train custom language models with their own proprietary data to develop differentiated offerings; and (4) industry-specific accelerator libraries, spanning such diverse verticals as genomics analysis and computational lithography. We continue to believe NVIDIA’s end-to-end AI platform and leading market share in gaming, data centers, and robotics (including automotive), along with the size of these markets, will enable the company to drive durable growth for years to come.”
