Jim Cramer’s Ultimate Stock Picks: 10 Hot Stocks to Consider

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors: 179

Jim Cramer shares that NVIDIA Corporation (NASDAQ:NVDA)’s new Blackwell chip platform has begun full-scale production, as CEO Jensen Huang revealed in an interview with CNBC’s Megan Cassella on Thursday, which took place outside the White House. Huang was there, along with other tech leaders and representatives from power and utility companies, to discuss the future of AI energy infrastructure in the US.

“Club holding Nvidia’s next-generation Blackwell chip platform is starting “full volume production,” CEO Jensen Huang told CNBC’s own Megan Cassella on Thursday outside the White House. Jensen, other tech executives, and leaders of power and utility companies were there for a meeting about the future of AI energy infrastructure in the U.S.”

NVIDIA Corporation (NASDAQ:NVDA)’s strong investment outlook is based on its leading position in AI and GPU markets, impressive revenue growth, and advancements in parallel computing. NVIDIA Corporation (NASDAQ:NVDA)’s latest earnings report predicts a revenue increase of over 107% year-over-year, potentially reaching around $28.6 billion in fiscal Q2 2024. Analysts are optimistic, with firms like Evercore ISI and Wedbush projecting more than 20% upside in NVIDIA Corporation (NASDAQ:NVDA)’s stock price.

NVIDIA Corporation (NASDAQ:NVDA)’s dominant 70-80% share of the AI chip market, along with its growing presence in cloud gaming and data centers, sets it up for continued success. NVIDIA Corporation (NASDAQ:NVDA) is expected to achieve a 38% annual growth rate over the next five years, with revenue possibly reaching $108 billion by 2026. This growth is driven by its leadership in AI hardware, a sector anticipated to reach a $300 billion annual market by 2027.

While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than the ones on our list but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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