Coronation Fund Managers Invests in NVIDIA Amid AI Growth Spurt
Coronation Fund Managers Ltd., a prominent financial institution, has invested in NVIDIA Corporation (NASDAQ:NVDA) by purchasing shares worth approximately $4.56 million. This investment is part of Coronation's strategy to diversify its portfolio and capitalize on the growing demand for artificial intelligence (AI) technology.
The company acquired 26,149 shares of NVDA stock in the first quarter, as per its most recent 13F filing with the Securities and Exchange Commission (SEC). This move is significant, given that institutional investors own a substantial portion (65.27%) of NVIDIA's stock.
NVIDIA has experienced remarkable growth in recent quarters, with revenue increasing by 85.2% year-over-year to $81.61 billion. The company's strong performance has been driven by its leadership in the AI infrastructure market, particularly through its liquid-cooled Blackwell systems.