Institutional Investors Pour into NVIDIA Amid Strong Demand
NVIDIA Corporation (NASDAQ:NVDA) continues to attract institutional investors who see value in its growth prospects. According to recent Form 13F filings, Smith Group Asset Management LLC increased its holdings by 14.2% in the second quarter, purchasing an additional 8,954 shares. This brought their total stake to 72,078 shares valued at $14,422,000.
Other institutional investors who boosted their positions include Essential Planning LLC, Oppenheimer & Co. Inc., Lummis Asset Management LP, Wallace Advisory Group LLC, and Hardworking Capital Advisors LLC. These firms collectively own over 65% of NVIDIA's outstanding shares.
NVIDIA's stock price has been rising due to strong demand for its AI data center products, which are expected to continue growing next year, according to CEO Jensen Huang. Analysts view the company as attractively valued relative to its growth prospects and see it as a leader in the AI infrastructure market.