11 Best Growth Stocks to Buy and Hold Forever

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1. NVIDIA Corporation (NASDAQ:NVDA)

EPS Growth Over the Past Five Years: 91.83%

EPS Growth over the Next Five Years: 34.94%

Forward Price to Earnings Ratio: 27.68

Number of Hedge Fund Holders: 235

NVIDIA Corporation (NASDAQ:NVDA) is one of the best growth stocks to buy and hold forever. On September 22, the company confirmed plans to invest up to $100 billion in OpenAI. In addition, the company is to supply the AI startup with data center chips as the two companies look to capitalize on the AI boom.

The $100 billion investment will give Nvidia a financial stake in the prominent AI company, which is already one of its biggest and most important customers. The investment will also provide the Microsoft-backed startup with the cash and access it needs to purchase advanced chips, which are necessary to strengthen its prospects in the burgeoning segment.

Nvidia is to start investing in OpenAI for non-voting shares once the deal closes. The two companies have also signed a letter of intent for the deployment of 10 gigawatts of Nvidia systems.

“Everything starts with compute,” OpenAI CEO Sam Altman said in a statement. “Compute infrastructure will be the basis for the economy of the future, and we will utilize what we’re building with Nvidia to both create new AI breakthroughs and empower people and businesses with them at scale.”

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor giant that develops graphics processing units used in data centers, computers, and gaming consoles. It also creates high-performance hardware and software platforms, like its CUDA software ecosystem, to power Artificial Intelligence (AI), graphics, and other complex computational tasks.

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.

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