10 Stocks to Watch in July as AI Enthusiasm Returns

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors: 212

Tim Seymour, Seymour Asset Management CIO, said in a recent program on CNBC that major tech companies are cutting back on AI spending plans and investors seem to be looking past market uncertainty. However, he praised Nvidia’s leadership and talked about the stock’s valuation:

“I do think you have a dynamic where it’s really a combination of dynamics, and it’s interesting to see that this is—you really haven’t heard any of the hyperscalers push back on their commitment to AI and AI infrastructure. What you’re seeing—you noted—I mean the move in ARM, the move in AI infrastructure, and then even moves in companies like Oracle, and the fact that Oracle’s even held on to some of these gains tells you where I think the market is. And AMD—the broadening of the chip trade. So it doesn’t mean that there isn’t some FOMO in here, it doesn’t mean that multiples are challenged, but I look at Nvidia and that leadership looks great to me, and that’s a multiple that I’m comfortable with.”

Columbia Threadneedle Global Technology Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2025 investor letter:

“However, the quarter was not without its challenges, starting with the fund holding NVIDIA Corporation (NASDAQ:NVDA). The threat of a new Chinese competitor upended the U.S. AI technology complex as fears rose that the lower-cost alternative that performed as well or better than most U.S. models could disrupt the market and reduce the need for AI semiconductors. NVIDIA reported quarterly results that showed growth – but still a bit subdued as compared with sky-high investor expectations. Profit margins were weak during the quarter as the company ramped up its new Blackwell chip architecture, which at $11 billion in quarterly revenue was the strongest product launch in company history.”

While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.