In a positive turn of events, Nvidia CEO Jensen Huang announced that the technology giant has received approval from US President Donald Trump to sell its advanced H20 computer chips. Jensen Huang is currently visiting Beijing and is set to speak at an event today, July 16th.
“Today, I’m announcing that the U.S. government has approved for us filing licenses to start shipping H20s.”
-Huang
“It’s so innovative and dynamic here in China that it’s really important that American companies are able to compete and serve the market here in China.”
The company’s AI chips have been a key focus of US export controls aimed at keeping advanced chips away from China and restricting the country from gaining traction in the AI arms race. However, Nvidia has been filing applications with the US government to resume sales and anticipates that it will receive the licences soon.
“The U.S. government has assured Nvidia that licences will be granted, and Nvidia hopes to start deliveries soon.”
Hearing this news, Chinese firms are now scrambling to buy the H20 artificial intelligence chips, as reported by Reuters.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q1 2025.
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10. GitLab Inc. (NASDAQ:GTLB)
Number of Hedge Fund Holders: 52
GitLab Inc. (NASDAQ:GTLB) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Rosenblatt initiated the stock as “Buy” with a $58 price target. The firm said that the software company is well-positioned for growth and share gains.
The technology landscape is witnessing increasing complexity in terms of application development, and there is a widespread adoption of AI-assisted coding. According to Rosenblatt, both of these factors are working in favour of GitLab.
The firm contended that even though generative AI is commoditizing parts of the coding process, it will eventually lead to more code creation. This, according to Rosenblatt, benefits platforms like GitLab that manage the full software development lifecycle.
The firm also pointed out that there is growth potential from selling its higher-tier “Ultimate” plans and adopting new AI-based add-on products. Since there are only a quarter of GitLab’s paying users currently on Ultimate, there is ample room to grow recurring revenue across its 10,000-plus customer base.
“In our view, the growth in and complexity of modern cloud and emerging GenAI applications and the upsell opportunity for GitLab provide significant runway for growth.”
“We believe GitLab has established itself as one of the two leading providers of comprehensive software development platforms, with over 30m registered users, and has broadened into many adjacent areas and additional personas, just in time to make the Company robust (and perhaps even anti-fragile) to the AI wave”.
GitLab Inc. (NASDAQ:GTLB) develops software for the software development lifecycle in the US, Europe, and the Asia Pacific.
9. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 80
ASML Holding N.V. (NASDAQ:ASML) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Reuters reported that ASML is all set to report its second-quarter earnings on Wednesday, July 16th. Investors are hopeful that the chip-making equipment supplier has bookings robust enough to support its 2026 growth ambitions.
ASML said previously at an investor event last November that it saw 2026 as a growth year. However, it didn’t mention how much growth it anticipated. According to several analysts, ASML is a “make or break” quarter for the company, which will seemingly determine its course for the rest of the year.
“ASML would need to double our second-quarter order estimates (of 5.3 billion euros) to comfort our 2026 revenue forecast.”
-Barclays analyst Simon Coles told Reuters.
According to a consensus compiled by Visible Alpha, analysts forecast second-quarter bookings to reach 4.44 billion euros and 21.3 billion euros for the full-year.
ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment, including lithography, metrology, and inspection systems for chip manufacturing.
