5 Most Advanced AI Companies

In this article, we will be taking a look at the 5 most advanced AI companies. To read our detailed analysis of current trends in the artificial intelligence sector, you can take a look at the 11 Most Advanced AI Companies.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company based in Santa Clara, California. It is the top provider of GPUs and AI chips that have become indispensable to the growth and development of AI operations today.

In total, 132 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) in the first quarter, with a total stake value of $12.3 billion.

Vijay Rakesh at Mizuho maintains a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) shares as of July 24, alongside a $530 price target.

The Ithaka Group mentioned NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artificial intelligence (AI), machine learning, and autonomous driving. The reason for the stock’s appreciation in the quarter was twofold: First, the stock benefited from tremendous excitement surrounding the further development of generative AI and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future; Second, Nvidia posted a beat-and-raise quarter for the history books, where the company upped its F2Q24 revenue guidance above Street estimates by an astounding 50%, causing the stock to gap up ~25% on the announcement.”