12 Most Active Blue Chip Stocks to Buy Now

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1. NVIDIA Corporation (NASDAQ:NVDA)

Avg Volume: 186.97 Million

Number of Hedge Fund Holders: 234

NVIDIA Corporation (NASDAQ:NVDA) ranks among the best most active to buy right now. Mizuho reaffirmed an Outperform rating and $245 price target for NVIDIA Corporation (NASDAQ:NVDA) on December 29, following the company’s announcement of a $20 billion nonexclusive licensing agreement with Groq. As part of the agreement, NVIDIA Corporation (NASDAQ:NVDA) will be given permission to utilize Groq’s inference Language Processing Units (LPUs), semiconductors designed to run massive language models with ultra-low latency, while Groq founder Jonathan Ross, President Sunny Madra, and other personnel will join Nvidia’s roster.

NVIDIA’s licensing of Groq’s LPU IP is focused on inference, the process that converts Al models into real-time applications, where Nvidia currently leads the space.

Meanwhile, analysts at Bernstein believe the $20 billion investment is appropriate for NVIDIA Corporation (NASDAQ:NVDA) to extend its market position as inference scales, particularly if Groq’s architecture provides significant advantages that NVIDIA Corporation (NASDAQ:NVDA) can now exploit while possibly restricting competitor access to the technology.

NVIDIA Corporation (NASDAQ:NVDA) designs and sells specialized processors, initially for gaming but now also crucial for AI, data centers, professional visualization, and the automotive industry.

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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