Jim Cramer’s 5 Best AI Stocks

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

Earlier in October Jim Cramer said he likes NVIDIA Corporation (NASDAQ:NVDA) even after last year’s huge gains because of the company’s AI chips dominance. Cramer said his charitable trust owns the stock and he recommends investors to “own it” and not trade it.

As of the end of the second quarter of 2023, 175 hedge funds out of the 910 hedge funds tracked by Insider Monkey had stakes in NVIDIA Corporation (NASDAQ:NVDA).

Artisan Developing World Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:

“Our focus on scalable business models has its roots in our economic framework. As potential output moderated in most emerging countries, it became clear to us affordability was not improving and that low penetration was necessary but not sufficient for value creation. We eliminated companies from the portfolio that were struggling to generate revenue significantly in excess of fixed costs, often replacing them with passport companies such as NVIDIA Corporation (NASDAQ:NVDA) and Airbnb that were economically tied to emerging markets. Over a period of time, we have been successful in redefining the emerging markets opportunity set around real per capita GDP increases, growth in the middle class, revenue velocity and demand fulfilment. Combined with changes in the market backdrop that have resulted in privileged competitive positions for companies with financial strength and access to capital, we find our opportunity set expanding anew to include companies that are both based in emerging markets and conducive to value creation.”