5 Best Electric and Autonomous Driving Stocks to Buy According to Hedge Funds

2. NVIDIA Corp. (NASDAQ:NVDA)

NVIDIA Corp. (NASDAQ:NVDA) is one of the 10 best electric and autonomous driving stocks to buy according to hedge funds.

On June 8, following a four-day visit to South Korea, Nvidia Corp.’s (NASDAQ:NVDA) Chief Executive Officer Jensen Huang announced strategic artificial intelligence partnerships with six major domestic companies. These new partnerships focus on four main areas, which include advanced memory chips, human-like robots, self-driving cars, and massive AI data centers.

According to Huang, the company’s largest memory partner is still SK Hynix, and procurement is predicted to rise well above its current multi-billion-dollar levels. According to Ryu Young-ho, an analyst at NH Investment & Securities, this deal demonstrates a move toward customer-tailored memory for particular AI systems. Regarding Nvidia’s collaborative efforts with SK Hynix, Huang stated:

“SK Hynix has been Nvidia’s largest memory partner. SK Hynix will continue to be Nvidia’s largest memory partner.”

Furthermore, in 2027, SK Telecom intends to build a gigawatt-scale AI cloud using Nvidia technology. In order to focus on humanoid robotics and data center infrastructure, such as cooling, power distribution, and architecture design, the company also established a relationship with LG Group. In addition, Nvidia plans to build an AI Valley data center in Saemangeum and increase autonomous mobility, robotics, and AI manufacturing operations after talking with Executive Chairman Euisun Chung.

NVIDIA Corp. (NASDAQ:NVDA) is a computing infrastructure company that has transitioned from PC graphics chips towards full-scale compute and networking solutions. It has now become a leading player within the AI and high-performance computing space. The company offers Data Center accelerated computing and networking platforms, along with automotive platforms and electric vehicle solutions.