5 Best Virtual Reality Stocks to Invest In

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Funds Holders: 175

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 VR applications, NVIDIA Corporation (NASDAQ:NVDA) is poised to reap the benefits from the technology’s advancement. In the realm of sophisticated VR applications—beyond the domain of video games where realism might take a back seat—a powerful PC equipped with a high-end Nvidia graphics card typically shoulders a significant portion of the processing load. Nvidia Corporation (NASDAQ:NVDA) has engineered VR-dedicated iterations of its GeForce GTX GPUs and has introduced a software developer kit (SDK) named VRWorks tailored to its chips. This SDK empowers developers to optimize performance, generate top-tier visual output, and maintain minimal latency.

NVIDIA Corporation (NASDAQ:NVDA) experienced a positive hedge fund sentiment in Q2 2023, as 175 hedge funds tracked by Insider Monkey owned stakes in the company, up from 132 in the previous quarter.

Baron Fifth Avenue Growth Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its second quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) Corporation is a fabless semiconductor company focused on designing chips and software for gaming and accelerated computing. Shares continued their torrid first quarter rise, increasing 52.3% in the second quarter (now up 190% year-to-date), after the company reported a meaningful acceleration in demand for its data center GPUs, which drove a material guidance beat with revenues expected to increase from $7.2 billion to approximately $11 billion sequentially. This unprecedented acceleration is driven by growing demand for GenAI. We are at the tipping point of a new era of computing with NVIDIA at its epicenter. While the opportunity within the datacenter installed base is already large at approximately $1 trillion, the pace of innovation in AI in general, and GenAI in particular, should drive a significant expansion in the addressable market, as AI creates a new way for human-computer interaction through language, and as companies are better able to utilize their data for decision-making. We remain shareholders as we believe NVIDIA’s end-to-end AI platform and the ecosystem it has cultivated over the last 15 years will benefit the company for years to come.”