Stocks
Convergence Investment Partners LLC Boosts Stake in NVIDIA Corporation Amid Positive Demand Outlook
NVIDIA Corporation (NASDAQ:NVDA) is one of the largest investments for Convergence Investment Partners LLC, accounting for about 3.1% of its portfolio.
The investment firm increased its position in NVIDIA by 20.9% during the first quarter, acquiring an additional 18,906 shares and bringing its total holdings to 109,219 shares, worth approximately $19 million at the end of the period.
NVIDIA's stock has been a significant focus for analysts this week, with positive sentiment driven by Amazon's support for demand outlook. The tech giant raised its capital-expenditure forecast, downplaying competition between its custom AI chips and NVIDIA's processors.