5 AI Stocks Billionaires Are Crazy About

In this article, we discuss the 5 AI stocks billionaires are crazy about. To read the detailed analysis of the AI industry, go directly to the 10 AI Stocks Billionaires Are Crazy About.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Billionaire Investors: 29

Dollar Value of Billionaire Holdings: $15.395 billion

NVIDIA Corporation (NASDAQ:NVDA) produces graphics processing units, central processing units, and system-on-a-chip units, and some of its chips and solutions are focused on artificial intelligence like its NVIDIA AI and HGX H200.

On December 8, it was announced that NVIDIA Corporation (NASDAQ:NVDA) and YTL Power International (OTCPK:YTLPF) will construct an artificial intelligence (AI) data center in Malaysia through an investment of over $4 billion.

The hedge fund sentiment was positive toward NVIDIA Corporation (NASDAQ:NVDA)’s stock, according to Insider Monkey’s database. 180 hedge funds had investments in the stock in the third quarter, up from 175 in the previous quarter. Billionaire Rajiv Jain’s GQG Partners was the most prominent investor in the company, with nearly 14.04 million shares worth $6.1 billion.

NVIDIA Corporation (NASDAQ:NVDA) was mentioned in White Brook Capital Partners’ third-quarter 2023 investor letter. Here is what it said:

“The magnificent seven, that underpin the S&P 500 performance, which includes NVIDIA Corporation (NASDAQ:NVDA), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”