How to Play The AI Boom And NASDAQ Rally According To Hedge Fund Manager Brad Gerstner: Top 5 Stock Picks

In this piece, we will talk about how to play the AI boom and the NASDAQ rally according to hedge fund manager Brad Gerstner through his top five stock picks. If you want a detailed look at the artificial intelligence scene and the hedge fund boss’s take on it, then head on over to How to Play The AI Boom And NASDAQ Rally According To Hedge Fund Manager Brad Gerstner.

5. Confluent, Inc. (NASDAQ:CFLT)

Mr. Gerstner’s Q1 2023 Investment: $348 million

Confluent, Inc. (NASDAQ:CFLT) is a software company based in Mountain View, California. The firm is a cloud platform provider that enables users to process, consolidate, manage, and access their data.

By the end of this year’s first quarter, 31 of the 943 hedge funds part of Insider Monkey’s research had held a stake in Confluent, Inc. (NASDAQ:CFLT). The firm’s largest hedge fund investor after Altimeter is Chase Coleman and Feroze Dewan’s Tiger Global Management LLC since it owns 5.7 million shares that are worth $138 million.

4. Uber Technologies, Inc. (NYSE:UBER)

Mr. Gerstner’s Q1 2023 Investment: $422 million

Uber Technologies, Inc. (NYSE:UBER) is one of the largest ride sharing companies in the world and one of the pioneers of the industry. It enables dries to connect with riders and has also expanded its business model over the years to also include food delivery and other services.

Insider Monkey took a look at 943 hedge funds for their March quarter of 2023 investments and found out that 144 had bought the firm’s shares. Ken Fisher’s Fisher Asset Management is Uber Technologies, Inc. (NYSE:UBER)’s largest shareholder in our database as it owns a $658 million stake.

3. Microsoft Corporation (NASDAQ:MSFT)

Mr. Gerstner’s Q1 2023 Investment: $442 million

Microsoft Corporation (NASDAQ:MSFT) is another technology giant. Like Google, it also has its own artificial intelligence chatbot. Additionally, Microsoft’s Azure platform also provides enterprise customers with AI products.

289 of the 943 hedge funds surveyed by Insider Monkey had held a stake in Microsoft Corporation (NASDAQ:MSFT) during this year’s first quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust is its largest shareholder since it owns 39 million shares that are worth $11.3 billion.

2. Meta Platforms, Inc. (NASDAQ:META)

Mr. Gerstner’s Q1 2023 Investment: $472 million

Meta Platforms, Inc. (NASDAQ:META) is one of Brad Gerstner’s favorite artificial intelligence stock picks. Headquartered in Menlo Park, California, the firm has its own artificial intelligence laboratory called Meta AI.

220 of the 943 hedge funds part of Insider Monkey’s database had bought and invested in the firm as of Q1 2023. Meta Platforms, Inc. (NASDAQ:META)’s largest shareholder is Philippe Laffont’s Coatue Management with a $1.7 billion stake that comes courtesy of eight million shares.

1. Snowflake Inc. (NYSE:SNOW)

Mr. Gerstner’s Q1 2023 Investment: $2.3 billion

Snowflake Inc. (NYSE:SNOW) is a cloud computing company based in Bozeman, Montana. The firm enables its customers to run analytics on their data and it was set up in 2012.

Insider Monkey’s March quarter of 2023 survey covering 943 hedge funds revealed that 63 had held a stake in Snowflake Inc. (NYSE:SNOW). Warren Buffett’s Berkshire Hathaway is its largest investor after Mr. Gerstner’s hedge fund with a $945 million stake.

Disclosure: None. You can also take a look at 22 Cheap Imported Beer Brands and 10 5G Stocks Billionaires Are Loading Up On.

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