5 Best Self-Driving Stocks To Invest In

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 102

NVIDIA Corporation (NASDAQ:NVDA) is one of the largest technology companies in the world that is known for designing and selling graphics processing units (GPUs). The company’s DRIVE Chauffeur platform is an artificial intelligence assisted driving platform that enables autonomous driving. Additionally, its DRIVE Orin computer can power autonomous vehicles by delivering 256 trillion operations per second (TOPS).

Despite the cryptocurrency crash that has dented NVIDIA Corporation (NASDAQ:NVDA)’s shares, its Orin platform is used by Mercedes-Benz as part of the auto company’s first (and the world’s first) level 3 autonomous driving platform. Level 3 does not require the driver to be ready to take over, and even Tesla’s FSD is level 2 – one level below. Not only is Orin the world’s fastest self-driving computer, but NVIDIA Corporation (NASDAQ:NVDA) plans to upgrade this by introducing Atlan, which is expected to be able to compute 1,000 TOPS.

102 of the 912 hedge funds part of Insider Monkey’s Q1 2022 survey had bought NVIDIA Corporation (NASDAQ:NVDA)’s shares.

Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor. It owns 7.3 million shares that are worth $1.9 billion.

ClearBridge Investments mentioned the company in its Q2 2022 investor letter, outlining that:

“Chipmaker Nvidia (NASDAQ:NVDA) has also been pressured by multiple compression of higher growth companies and weakness in its gaming business. While Nvidia has grown into a top 10 position with its strong performance through late 2021, we have been consistently trimming the position to derisk against short-term volatility in its gaming business. The company is clearly exposed to the semiconductor cycle but also participates in the secular growth of cloud and AI adoption through its data center business. With these secular drivers intact and new products ramping up in the second half of the year, we are maintaining an overweight to the company.”