5 Best Machine Learning Stocks To Invest In

In this article, we discuss the 5 best machine learning stocks to invest in. To read a detailed analysis of the machine learning industry, go directly to the 13 Best Machine Learning Stocks To Invest In.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 173

NVIDIA Corporation (NASDAQ:NVDA) is a tech company that provides a range of machine learning and analytics software libraries and software solutions, including RAPIDS, Deep Learning SDK libraries, NVIDIA GPU Cloud (NGC), and others. Additionally, NVIDIA Hopper and Ampere GPU graphics processing units are designed specifically for accelerating AI tasks, especially deep learning. One of the main features of these GPUs is their tensor cores which are specialized hardware units tailored for performing matrix multiplication operations commonly used in deep learning algorithms. The company takes the 5th spot on our list of best machine learning stocks to invest in.

Based on 39 Wall Street analysts’ ratings over the past three months, NVIDIA Corporation (NASDAQ:NVDA) has a consensus rating of Strong Buy. The average price target of $983.84 implies an upside of 12.41% from the price of $875.25 on April 8.

In Q4 of 2023, 173 hedge funds held positions in NVIDIA Corporation (NASDAQ:NVDA) and their stakes amounted to $33.764 billion. This is compared to 180 funds with positions in the stock in the preceding quarter worth $29.576 billion. As of December 31, 2023, GQG Partners is the most dominant shareholder in the company and has a position worth $6.88 billion.

Palm Valley Capital Management stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its first quarter 2024 investor letter:

“Such beguiling prognostications are indigenous to Wall Street—the biggest showcase of them all. The ferocious march higher of NVIDIA Corporation (NASDAQ:NVDA)’s stock on expectations of its continued dominance in artificial intelligence (AI) chips might even confound the galley slavedriver in Ben-Hur. Ramming speed!

Nvidia’s share price seems to imply the firm will soon control nearly the entire global semiconductor market (over half a trillion in sales vs. Nvidia’s current $60 billion) while maintaining an operating margin of 54%—unprecedented for a hardware company. Leading hardware firms rarely retain their supremacy forever: IBM, Hewlett Packard, Digital Equipment Corporation, Intel, and Cisco all fell from their storied perches…” (Click here to read the full text)