We just covered the 12 Best Stocks to Invest In According to Jim Simons’ Renaissance Technologies and NVIDIA Corporation (NASDAQ:NVDA) ranks 10th on this list.
NVIDIA Corporation (NASDAQ:NVDA) has been a long-term holding in the 13F portfolio of Renaissance Technologies. The fund first disclosed a stake in the firm back in the first quarter of 2011. This position comprised just under 10 million shares. By the first quarter of 2014, the fund had grown this to over 200 million shares. Over the years, the fund kept buying and selling the stock. The latest stake was purchased in the second quarter of 2023 and comprised over 18 million shares at the time. Filings for the first quarter of 2026 show that the fund owned over 2.5 million shares in the firm, up 189% compared to filings for the previous quarter.
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NVIDIA Corporation (NASDAQ:NVDA) is executing smoothly from a financial standpoint. The company completely shattered Wall Street consensus expectations across every major metric for the recent quarter. It pulled in $81.6 billion in Q1 revenue, marking an 85% year-over-year surge and a 20% sequential increase from the prior quarter, beating analyst estimates of $79.2 billion. Net profit skyrocketed to $58.3 billion, a 211% year-over-year jump, revealing a high-efficiency business model that converts high-end computing demand straight into cash flow. Non-GAAP EPS landed at $1.87, beating expectations of $1.77. The company generated $49 billion in quarterly Free Cash Flow, operating at a 60% free cash flow margin.
While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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