Elevated Capital Advisors Reduces Stake in NVIDIA Amid Strong Chip Sales Predictions

Elevated Capital Advisors LLC has significantly reduced its stake in NVIDIA Corporation's (NVDA) shares. The fund lowered its position by 29.6% during the second quarter, selling 10,748 shares and reducing its holding to 25,524 shares.

The value of Elevated Capital Advisors' holdings in NVDA was approximately $5.11 million at the end of the most recent reporting period, which accounts for about 1.4% of the fund's portfolio.

NVIDIA has been a significant player in the AI hardware market, with its GPUs and other products being used extensively in data centers. The company's CEO, Jensen Huang, has predicted that NVIDIA will sell roughly twice as many chips next year, driven by continued demand for AI infrastructure.