Equity analysts at Goldman Sachs have identified the 11 AI-related technology stocks that hedge funds are investing in.
Goldman Sachs analyzed the holdings of 744 hedge funds with $2.4 trillion in gross equity positions as of the start of the third quarter, based on regulatory filings.
Equity analysts at Goldman Sachs then identified the 11 technology stocks related to artificial intelligence that hedge funds are investing in.
Nvidia is a major beneficiary. Appaloosa Management’s David Tepper dramatically increased his stake in Nvidia, making it his largest holding as of the end of June, worth $432 million.
Hedge funds have also taken positions on Microsoft, Meta, and Amazon, all companies that are applying AI to their products and services. Microsoft announced a multi-year, multi-billion dollar investment in ChatGPT maker OpenAI. Meta recently unveiled its AI computer chips.
Several hedge funds also added a lesser-known name in the semiconductor industry, credi Technology, last quarter. The stock is up about 13% this year.
Semiconductor companies that make advanced chips have been popular this year as investors chase the AI boom. Also in the semiconductor sector, we find Marvell Technology among the stocks selected by hedge funds.
Also on the list were software companies and cloud computing companies such as Adobe and Salesforce.
Starboard Value’s Jeffrey Smith says Salesforce can grow further: the stock can pick up another 30% on the back of the AI boom. He famously took an activist stake in 2022.
Other particularly interesting companies are Intuit, ServiceNow and Alphabet: the latter stock is present in the portfolio of 161 hedge funds, where 142 funds have taken a position on Nvidia.
Original article published on Money.it Italy 2023-09-04 07:30:00. Original title: Le 11 scommesse tecnologiche degli hedge fund
