We recently published a list of 10 Trending AI Stocks on Wall Street Right Now. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other trending AI stocks on Wall Street right now.
US President Donald Trump wrapped up his tour of the Middle East today, concluding numerous high-profile deals and diplomatic engagements with countries such as Saudi Arabia, Qatar, and the United Arab Emirates (UAE).
On his last stop of the Gulf tour, Trump inked a massive AI data centre project where the two countries will be partnering on an artificial intelligence campus. Trump noted that the United Arab Emirates and the United States had agreed on a path for the Gulf country to buy advanced AI semiconductors from U.S. companies. This marks a significant step forward in Abu Dhabi’s efforts to become a global AI hub.
The AI agreement “includes the UAE committing to invest in, build, or finance U.S. data centres that are at least as large and as powerful as those in the UAE.”
Trump also pledged to strengthen U.S. ties to the United Arab Emirates, announcing deals with the Gulf state totalling over $200 billion. The two countries have agreed to deepen cooperation in artificial intelligence.
The US and UAE have agreed to establish a “US-UAE AI Acceleration Partnership” framework. Trump and Sheikh Mohamed also attended the unveiling of the new 5GW AI campus. This would be the largest outside the United States. However, the countries did not specify which AI chips from Nvidia or other companies could be included in the data centres.
“In the UAE, American companies will operate the data centers and offer American-managed cloud services throughout the region. The agreement also contains strong security guarantees to prevent diversion of U.S. technology.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Wedbush Sees Strong Blackwell Ramp, Reiterates Nvidia (NVDA) Outperform
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
Number of Hedge Fund Holders: 223
NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services. One of the most notable analyst calls on Friday, May 16, was for Nvidia Corporation. Wedbush reiterated the stock as “Outperform,” stating that the supply chain checks show that Nvidia’s Blackwell chip continues to ramp up.
“We believe Nvidia Blackwell builds continue to ramp: Our recent conversations, hyperscale reports, and CoreWeave’s update all point to strength in forward capex.”
Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $160 implies a 18% upside, however, the Street-high target of $235 implies an upside of 75%.
Overall, NVDA ranks 4th on our list of trending AI stocks on Wall Street right now. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.
Add Comment