5 Best Stocks to Buy in 2024 According to Billionaire D.E. Shaw

3. NVIDIA Corporation (NASDAQ:NVDA)

Value of D.E. Shaw’s 13F Position: $1.4 billion

Number of Hedge Fund Shareholders: 182

NVIDIA Corporation (NASDAQ:NVDA) remained one of the hottest stocks in 2023 due to its penetration in AI markets. Its semiconductors power AI products in data centres and other applications. The company has also benefited from high demand, as its third-quarter revenue increased by more than 200%. The company expects fourth-quarter revenue to be between $20 billion, higher than the $17.9 billion expected by analysts.

NVIDIA is also popular among hedge funds. According to Insider Monkey data, NVIDIA was in 182 hedge fund portfolios at the end of the third quarter.