In this article, we will take a look at the 5 best AI stocks for 2022. If you want our detailed analysis of these stocks, go directly to the 10 Best AI Stocks for 2022.
5. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 83
Graphics chip giant NVIDIA Corporation (NASDAQ:NVDA) is one of the best AI stocks for 2022. NVIDIA GPU deep learning, an enterprise AI product from the California-based company, is widely used for training deep neural networks.
NVIDIA Corporation (NASDAQ:NVDA) shares have risen 35% over the last six months as the chipmaker continues to dominate the GPU market. The company is among the biggest suppliers of semiconductors to data centers globally. The company grew its year-over-year revenue in the third quarter of 2021, reporting total revenue of $7.10 billion.
On December 3, Citi analyst Atif Malik maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) with a price target of $350. In addition, 83 elite funds had a stake in NVIDIA Corporation (NASDAQ:NVDA) worth over $10 billion at the end of the September quarter.
Among the hedge funds being tracked by Insider Monkey, GQG Partners is a leading shareholder in the California-based GPU maker with 15 million shares worth more than $3.14 billion.
“The proliferation of devices using chips, whether EVs, “things” in lol, or embedded systems more generally, results in the generation of oceans of data potentially needing to be stored, processed, and analyzed. NVIDIA, the leading chip designer well-known for its graphic processing units and its complementary CUDA software ecosystem, is at the forefront of the effort to provide the analytical platform needed to unlock the full potential of such specialist processors.”