NEW YORK (Reuters) – Australia-listed investment firm GQG Partners increased its holdings in Nvidia Corp during the second quarter, ending June with a total investment of $5.9 billion in the chipmaker, as per regulatory filings on Friday.
Nvidia’s shares have surged by approximately 180% year to date and the company’s market capitalization has reached $1 trillion, driven by excitement surrounding advancements in artificial intelligence.
In early June, Rajiv Jain, Chief Investment Officer of GQG Partners, stated in an interview with Reuters that the firm had significantly increased its position in Nvidia, expressing his belief that the stock had further potential for gains.
By the end of June, GQG held 13.9 million shares of Nvidia, representing a 5.7 million share increase from its holdings on March 31.
The investment firm also initiated a new position in Amazon.com Inc, valued at approximately $2 billion, while also expanding its existing positions in other major technology companies commonly referred to as the “magnificent seven” megacap stocks, including Alphabet Inc, Apple Inc, and Microsoft Corp.
GQG Partners, headquartered in Fort Lauderdale, Florida, currently manages $108 billion in assets.
Carolina Mandl in New York contributed to this report with editing by Deepa Babington.
Credit: The Star : Tech Feed
