NEW YORK (Reuters) – Australia-listed funding agency GQG Companions added extra shares of Nvidia Corp within the second quarter, ending June with $5.9 billion invested within the chipmaker, in line with regulatory filings on Friday.
Shares in Nvidia are up roughly 180% 12 months thus far and reached $1 trillion in market capitalization, amid pleasure over developments in synthetic intelligence.
To start with of June, Chief Funding Officer Rajiv Jain advised Reuters he had been meaningfully growing the agency’s place in Nvidia, as he believed the inventory had room for extra positive factors.
GQG held 13.9 million shares of Nvidia on the finish of June, or 5.7 million greater than it did on March 31.
The agency additionally constructed a brand new place in Amazon.com Inc of roughly $2 billion, moreover growing present positions in among the different so-called “magnificent seven” megacap shares”: Alphabet Inc, Apple Inc and Microsoft Corp.
Fort Lauderdale, Florida-based GQG, manages $108 billion in property.
(Reporting by Carolina Mandl in New York, enhancing by Deepa Babington)