1. Nvidia Corp (NASDAQ:NVDA)
Billionaires’ Stake: $63.4 Billion
Number of Hedge Fund Holders: 275
Number of Billionaire Holders: 53
Stock Upside Potential: 39.10%
Nvidia Corp (NASDAQ:NVDA) is one of the best data center stocks to invest in according to billionaires. Nvidia shares are up 14% over the past month and up more than 48% over the past year.
On June 6, Micron Technology (NASDAQ:MU) secured certification for its HBM4 memory on Nvidia Corp (NASDAQ:NVDA)’s upcoming Vera Rubin AI platform, according to Bloomberg. This approval places Micron among a select group of suppliers supporting Nvidia’s next‑generation AI systems, alongside Samsung Electronics and SK Hynix.
HBM, or high‑bandwidth memory, is essential for powering advanced AI accelerators and data center workloads. By certifying Micron’s HBM4, Nvidia ensures its Vera Rubin platform will have access to cutting‑edge memory solutions capable of handling the massive computing demands of next‑generation AI models. This strengthens Nvidia’s ecosystem and highlights its leadership in AI infrastructure.
The Vera Rubin platform is expected to succeed Nvidia’s current AI systems, expanding capacity for cloud providers and enterprises investing heavily in AI. Certification of multiple suppliers, including Micron, reflects Nvidia’s strategy to secure reliable, high‑performance components for its expanding AI factory architecture.
Micron’s involvement underscores the broader surge in demand for advanced memory as AI spending accelerates. While competition in HBM remains intense, Nvidia’s certification of Micron ensures diversified supply for its future platforms, reinforcing Nvidia’s central role in driving the AI semiconductor market forward.
The same day, Navitas Semiconductor (NASDAQ:NVTS) jumped 25% after announcing a partnership with the NVIDIA MGX Ecosystem to advance 800 VDC AI infrastructure, Bloomberg reported. At COMPUTEX 2026 (June 2–5, Taipei), following Nvidia’s Partner Ceremony on May 29, Navitas showcased its 800 V‑to‑6 V DC‑DC power delivery board powered by GaNFast technology, which eliminates the traditional 48 V bus and streamlines server tray design for Nvidia’s AI Factory MGX platform.
Featuring 16 GaNFast FETs rated at 650 V, the board achieves 97.5% efficiency at 1 MHz with a density of 2100 W/in³, thinner than a mobile phone, tackling the challenge of efficient power delivery for massive AI workloads. While Navitas provides gallium nitride and silicon carbide semiconductors, the collaboration underscores Nvidia’s leadership in AI ecosystems, reinforcing its dominance as the backbone of next‑generation AI factories and global data center innovation.
Nvidia Corp (NASDAQ:NVDA) supplies advanced graphics processing units used in AI and cloud data centers. The data center market generates around 90% of Nvidia’s total revenue. Moreover, Nvidia dominates the data center GPU market. Nvidia has partnered with various companies to accelerate AI-ready data center buildout.
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 the cheapest AI stock.
READ NEXT: 10 Best Debt-Free IT Stocks to Buy Now and 10 Best Stocks to Buy According to Billionaire Bill Gates.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
