5 Best Metaverse Stocks To Invest In

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) is an American multinational technology company that manufactures graphics processors, mobile technologies, and desktop computers. A prominent player in the race towards the metaverse, and one of the very few that achieved success within this sphere, NVIDIA Corporation (NASDAQ:NVDA) — whose metaverse tool is called Omniverse — is also involved in various related industries, including artificial intelligence and virtual reality.

NVIDIA Corporation (NASDAQ:NVDA) experienced a positive hedge fund sentiment in Q1 2023, as 132 hedge funds tracked by Insider Monkey owned stakes in the company, up from 106 in the previous quarter.

Alger Spectra Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super-computing parallel processing techniques for solving complex computational problems. Simply put. Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. As such, we believe Nvidia is a long-term high unit volume growth opportunity. During the period, NVIDIA reported fiscal fourth-quarter results that met expectations, as the company navigated. through an inventory correction associated with the broad macroeconomic slowdown. Moreover, management gave fiscal year earnings guidance that was better than analyst estimates, noting strong year-over-year growth in gaming and data centers. Management’s constructive assessment of 2023 prospects. coupled with the rapid rollout and adoption of generative Al offerings, led to positive share price performance.”