NVIDIA Corporation (NVDA) Is Taking AI Beyond Chips: Here’s What Could Drive Its Next Growth Phase

Liontrust Investment Partners recently released its “GF Global Innovation Fund” Q3 2026 investor letter. A copy of the letter can be downloaded here. The Fund returned -3.0% in the third quarter of 2026, underperforming the MSCI AC World Index, which gained 1.6%. However, the Fund remained ahead year to date, returning 17.9% compared with 13.0% for the benchmark. The quarter was marked by significant volatility across semiconductor stocks, with approximately $3 trillion wiped from semiconductor market capitalizations in July despite strong underlying business performance and growing demand for AI infrastructure. The managers used the sell-off to rebuild positions in several companies at lower valuations. Portfolio activity focused on businesses positioned to benefit from AI-related infrastructure investment, including power generation, semiconductor components, and data center construction. Looking ahead, the managers remain constructive on the AI investment cycle but expect to remain active as higher bond yields and market volatility create opportunities to buy businesses at more attractive valuations. In addition, please check the Fund’s top five holdings to know its best picks in 2026.

In its third-quarter 2026 investor letter, Liontrust GF Global Innovation Fund highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA). NVIDIA Corporation (NASDAQ:NVDA) is a leading technology company that designs graphics processing units (GPUs), accelerated computing platforms, and artificial intelligence infrastructure. The one-month return of NVIDIA Corporation was -23.5% while its shares traded between $164.27 and $243.37 over the last 52 weeks. On November 5th, 2026, NVIDIA Corporation stock closed at approximately $181.60 per share, with a market capitalization of about $4.54 trillion.

Liontrust GF Global Innovation Fund stated the following regarding NVIDIA Corporation in its Q3 2026 investor letter:

“NVIDIA Corporation (+14%) was the second largest contributor, adding 0.8 points. We rebuilt the position through July as the shares fell with the rest of the complex, and it ended the quarter as the Fund’s largest holding. Nvidia now sells, finances and guarantees the AI factory: the financing platforms described above put it at the centre of the capital as well as the hardware, and every gigawatt they fund is first an order for its platforms.”

NVIDIA Corporation (NVDA) Is Taking AI Beyond Chips: Here's What Could Drive Its Next Growth Phase

In another article, we covered NVIDIA Corporation and shared our views on the company. In addition, please check out our hedge fund investor letters Q3 2026 page for more investor letters from hedge funds and other leading investors.

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This article is originally published at Insider Monkey.