5 Best Data Center Stocks To Invest In

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 102

NVIDIA Corporation (NASDAQ:NVDA) is the world’s largest designer and seller of graphics processing units (GPUs). These products, initially used by gamers, are now widely used in data centers for modern day technologies such as artificial intelligence and machine learning. The company is headquartered in Santa Clara, California, United States.

Given that its products sit right at the heart of data center computing, it’s a no brainer that NVIDIA Corporation (NASDAQ:NVDA) is a key data center stock. For instance, its latest quarterly results revealed that data center products accounted for 45% of overall revenue, and NVIDIA Corporation (NASDAQ:NVDA)’s new Arm-based processors for this segment are yet to make their mark.

Additionally, the company has one of the strongest data center portfolios out there, as it targets six different data center products such as supercomputers, hyperscalers, and cloud computing. Due to this, NVIDIA Corporation (NASDAQ:NVDA) is estimated to rake in $22 billion in revenue from data centers by the end of 2024.

Insider Monkey surveyed 912 hedge fund portfolios for Q1 2022 and discovered that 102 had bought NVIDIA Corporation (NASDAQ:NVDA)’s shares.

Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor through a $1.9 billion stake that comes courtesy of 7.3 million shares.