Goldman Sachs AI Stocks: Top 5 Stock Picks

3. NVIDIA Corporation (NASDAQ:NVDA)

Goldman Sachs’ Q2 Stake Value: $6.3 billion

Number of Hedge Fund Holders: 175

We saw 175 hedge funds long NVIDIA Corporation (NASDAQ:NVDA) in the second quarter. Their total stake value was $25.9 billion.

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company that is vital to the development of AI today because of its development and provision of AI chips and GPUs.

A Buy rating and a $668 price target were maintained on NVIDIA Corporation (NASDAQ:NVDA) on August 24 by William Stein at Truist Securities.

Mairs & Power said the following about NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter 2023 investor letter:

“Regarding stock selection in the first half, NVIDIA Corporation (NASDAQ:NVDA) was a massive outperformer, up 189.54%. Amazon and Microsoft were also positive contributors, up 55.19% and 42.66%, respectively. All three stocks benefited from a renewed interest in growth stocks by investors in the first half of the year. Nvidia is the leading provider of processors used for artificial intelligence (AI) computation for both learning and inferencing, and its stock rallied significantly on a massive earnings report in the first quarter as cloud data center companies invested heavily in AI.”

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