5 Quantum Computing Stocks Billionaires Are Loading Up On

In this article, we will take a look at the 5 quantum computing stocks billionaires are purchasing. If you want to read our detailed analysis of the industry and its growth prospects, go to the 10 Quantum Computing Stocks Billionaires Are Loading Up On.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Billionaire Investors: 22

Dollar Value of Billionaire Holdings: $4,560,858,701

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) introduced the world’s first graphic processing unit (GPU) accelerated quantum computing system called the NVIDIA NGX Quantum in March 2023 during its annual NVIDIA GPU Technology Conference (GTC). The system is based on NVIDIA Grace Hopper Superchip and open-sourced CUDA Quantum programming model, as it integrates the power of quantum computing with classical computing by using coding languages like C++ and Python. The Grace Hopper GPU system is powered for big-scale AI and high-performance computing (HPC) applications.

Here’s what RiverPark Advisors said about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA): NVDA shares were our next top contributor on better-than-expected 4Q results and 1Q guidance. The stock also benefitted from the positive momentum around Artificial Intelligence and the Nvidia chips that drive it. While revenue was down -21% year over year, a rebound in the company’s gaming business helped drive revenue above Wall Street’s expectations.

NVDA is the leading designer of graphics processing units (GPU’s) required for powerful computer processing. Over the past 20 years, the company has evolved through innovation and adaptation from a predominantly gaming-focused chip vendor to one of the largest semiconductor/software vendors in the world. Over the past decade, the company has grown revenue at a compound annual rate of over 20% while expanding operating margins and, through its asset light business model, producing ever increasing amounts of free cash flow. After working through its near-term slowdown, we expect future growth to remain robust as NVDA chips and software are critical to many of the core technologies being adopted globally, including cloud computing, virtual reality, and artificial intelligence.”