SpaceX Joins Nvidia as Retail Investors' Top AI Picks

Retail investors are increasingly playing a larger role on Wall Street, and their favorite stocks are giving clues about future growth opportunities. According to Robinhood's trading data, Nvidia has been the most-held stock among retail investors for some time, but now SpaceX, Elon Musk's Space Exploration Technologies, has entered the top 10.

The AI sector is a major draw for these everyday investors, with Nvidia being a dominant player in the field. The company's graphics processing units are crucial to AI-accelerated data centers, and CEO Jensen Huang's aggressive development timeline has led to a virtual monopoly on AI-accelerating chips used in enterprise data centers.

SpaceX, meanwhile, has locked in deals with AI startups like Anthropic and Google parent Alphabet to rent GPU capacity for $1.25 billion/month and $920 million/month respectively. This exposure to the trillion-dollar AI market is likely why SpaceX has become a favorite among retail investors.