5 Investors Betting Big on Nvidia (NVDA) Stock Amid AI Race

  • Nvidia (NVDA) reported positive earnings amid the artificial intelligence (AI) boom.
  • But positive sentiment from institutional investors was growing before that.
  • Vanguard tops a list of financial giants betting on the dynamic tech company.
NVDA stock - 5 Investors Betting Big on Nvidia (NVDA) Stock Amid AI Race

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It’s been a wonderful week, month, and year for Nivida (NASDAQ:NVDA). The chipmaker rose to market prominence as the metaverse boom of 2022 amid a new rush on tech stocks. This year’s current defining market trend could be even better for it. Since the launch of ChatGPT in November 2022, investors have been looking for companies in the artificial intelligence (AI) space whose technology has wide-reaching applications. This has been excellent for NVDA stock, which has spiked more than 22% over the past month. Yesterday, Nvidia reported impressive earnings, including a beat on both the top and bottom lines. This has prompted an influx of bullish calls from Wall Street, sending NVDA stock up. As InvestorPlace contributor Joel Baglole reports:

“The stock had been as high as $230 a share in February. After the company reported better-than-expected Q4 results, propelled by its gaming business, it appears that NVDA has put the demand and supply chain problems of the past year behind itself and can now focus more on the advanced semiconductors and microchips it makes that power everything from data centers to supercomputers.”

Nvidia’s success should remind investors that the tech sector is moving past the selloff that shook Wall Street’s confidence last year. But it’s impossible to miss that the company is carving out a clear spot for itself near the front of the AI race. As InvestorPlace contributor Ian Cooper recently speculated, the metaverse is facing a future based on AI, which means significant opportunities for companies that span both sectors. With that in mind, it’s no surprise that institutional investors are more committed to Nvidia than ever.

5 Investors Betting Big on NVDA Stock

Data from Whale Wisdom indicates that institutional sentiment toward NVDA stock is growing increasingly positive. According to 13F filings, as of 2022 Q4, 2735 funds hold positions in Nvidia, an increase of more than 5% with 427 hedge funds. As of this writing, there are currently 1.591 billion 13F shares, up 3.35% from the previous quarter. Percentage ownership has also increased by 3.35%, and 353 new positions have been reported. This makes for an increase of more than 200%. The stock’s put/call ratio has moved from 1.24 to 1.04, decreasing by more than 16%.

With that in mind, let’s take a look at the top investors staking big bets on NVDA stock.

  1. Vanguard Group: 204,600,119 shares. This institutional investing giant increased its position in Nvidia by 852,873 shares during 2022 Q4.
  2. BlackRock NYSE:BLK): 179,820,516 shares. This wealth manager increased its NVDA holdings by 3,415,108 shares during 2022 Q4.
  3. Fidelity Investments: 137,387,554 shares. This financial services company decreased its position in Nvidia by 2,284,954 during Q4 2023.
  4. State Street Corporation (NYSE:STT): 97,703,214 shares. This asset management firm reduced its NVDA stock position by 1,048,050 shares during Q4.
  5. T. Rowe Price Associates (NASDAQ:TROW): 56,956,988 shares. This investment advisory company added 5,043,685 NVDA shares to its holdings in 2022 Q4.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/5-investors-betting-big-on-nvidia-nvda-stock-amid-ai-race/.

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