Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

2. NVIDIA Corporation (NASDAQ:NVDA)  

Bridgewater Associates’ Stake Value as of Q3: $577.3 million

Number of Hedge Fund Holders: 193

NVIDIA Corporation (NASDAQ:NVDA), a global leader in graphics computing and networking solutions, continues to see strong demand for its GPUs, particularly in gaming and AI-driven applications.

On October 29, NVIDIA Corporation (NASDAQ:NVDA) introduced its Enterprise Reference Architectures, offering blueprints to assist partners and customers in building AI factories. Subsequently, on November 6, the company announced a collaboration with Hugging Face to accelerate open-source AI robotics research and development, further solidifying its position in the AI space.

In a notable shift compared to the overwhelming analyst sentiment, Phillip Securities downgraded NVIDIA’s stock from a Buy to an Accumulate rating on November 22, attributing the move to recent price action. Despite the downgrade, the firm raised its price target slightly to $160 from $155 in its report. NVIDIA’s fiscal Q3 2025 earnings exceeded expectations, with revenue beating its guidance by 8% and profit after tax and minority interests (PATMI) soaring 109% year-over-year. Philip’s report noted that around 50% of NVIDIA’s data center sales come from hyperscalers, with the remainder split between enterprises and sovereign nations. Looking ahead, NVIDIA Corporation (NASDAQ:NVDA) plans to commence production of its Blackwell products in Q4 2025, with revenue projections exceeding initial estimates of “several billion dollars.”

Polen Focus Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2024 investor letter:

“In a reversal from the past two quarters, NVIDIA Corporation (NASDAQ:NVDA) represented our top relative contributor this quarter, despite the modest underperformance, declining -1.7%. In many ways, NVIDIA was a microcosm of the broader market’s heightened volatility. Beneath the placid surface, the company experienced a 27% drawdown followed by a +31% rally, only to repeat the cycle with a -21% drawdown followed by a subsequent 20% rally to finish the quarter. In our view, the stock’s volatility goes beyond fundamental business drivers, but the company in turn benefitted from increasing capital spending budgets from cloud service providers and large enterprises for generative AI (“GenAI”) infrastructure spending. Simultaneously, the stock endured weakness related to the delayed next-generation Blackwell chip, and an earnings forecast that exceeded expectations, albeit not as much as some investors hoped. While we continue to believe NVIDIA is a highly advantaged business, with significant demand for their chips and servers ahead of the need for that hardware from real-world businesses, we are cautious about its growth sustainability since it lacks recurring revenue.”