Artificial intelligence technology continues to storm into virtually every industry. And from Nvidia, Broadcom and Taiwan Semiconductor to Palantir Technologies, Netflix, Cloudflare and more, the best mutual funds once again poured huge sums into the top AI stocks.
Nvidia — the first $4 trillion company — led the latest monthly report on new buys by top funds, raking in over $24 billion from these savvy money managers. Facebook parent Meta Platforms, Broadcom and Capital One Financial, which leverages AI and machine learning across its financial empire, each saw at least $13 billion in capital inflows. In total, 34 companies across a wide range of sectors took in at least $1 billion each from these top funds.
The links below highlight just a portion of this month's new buys and sells by top funds.
Click here to see all the stocks on the list.
Note: The New Buys list includes only new buys of the mutual funds rated from A+ to B- based on 36-month performance before screening for other proprietary criteria. The Latest Sells list tallies the number of top funds that were net sellers of each stock with ratings ranging from A+ to B+ in the fund's latest reporting period. Because some funds bought the same stocks sold by others, we also looked at the total number of buyers of each stock.
Nvidia Stock Enjoys Its $4-Trillion Crown As Tesla Eats Crow
The Biggest Bets By The Best Mutual Funds
Each month, this screen highlights where top money managers are placing their biggest bets.
Nvidia made three straight appearances in April, March and February of last year. Then the AI juggernaut went on a long hiatus. But it made a triumphant return a month ago before revving up to outshine the entire field in this latest report.
Capital One came in a strong second, raking in a whopping $21.94 billion.
After absolutely dominating last month's report, Nvidia industry peer Broadcom pulled in $14.14 billion from the best mutual funds. Earlier this month, a Mizuho Securities analyst named the AI chip stock his "top pick" among semiconductor stocks.
AI-fueled social media powerhouse Meta Platforms took fourth place. The Mark Zuckerberg-led firm garnered capital inflows of $13.31 billion. Analysts recently upped their price targets as Meta gets set to report earnings on July 30.
| Company | Symbol | $ Amt Invested (bil) | Comp Rating |
|---|---|---|---|
| Nvidia | $24.19 | 97 | |
| Capital One Financial | 21.94 | 94 | |
| Broadcom | 14.14 | 97 | |
| Meta Platforms | 13.31 | 96 |
Billions More Stream Into Netflix, Palantir And Beyond
While Nvidia, Capital One, Broadcom and Meta made up the top tier of new buys, the best mutual funds showered investments on a wide array of other stocks as well.
Although Netflix got a recent downgrade, the streaming pioneer took in $5.17 billion from leading investors. Vertiv also joined the $5-billion club. The digital infrastructure technology provider pulled in $5.33 billion.
Disney, a Netflix rival in the streaming space, saw $4.37 billion flow into its stock.
Two spinoffs from former conglomerate colossus General Electric also made the cut. GE Aerospace ($3.31 billion) and green energy-focused GE Vernova ($2.89 billion) have seen heavy investments as both stocks continue to soar.
Showcasing more AI stocks to watch, Palantir and ServiceNow earned a spot on the latest list. After plowing $3.47 billion into Palantir in last month's report, top money managers invested another $2.45 billion. ServiceNow — the July 7 IBD Stock Of The Day — took in $3.08 billion.
Other AI stocks on the list include Cloudflare ($3.53 billion), Taiwan Semiconductor ($2.17 billion), Robinhood Markets ($1.99 billion). and Shopify ($1.81 billion), among others.
| Company | Symbol | $ Amt Invested (bil) | Comp Rating |
|---|---|---|---|
| Vertiv | 5.33 | 97 | |
| Netflix | 5.17 | 99 | |
| Disney | 4.37 | 95 | |
| LPL Financial | 4.15 | 99 | |
| Cloudflare | 3.53 | 98 | |
| GE Aerospace | 3.31 | 98 | |
| ServiceNow | 3.08 | 97 | |
| GE Vernova | 2.89 | 97 | |
| Palantir Technologies | 2.45 | 99 | |
| Intuit | 2.44 | 96 | |
| Amphenol | 2.39 | 99 | |
| Carvana | 2.29 | 99 | |
| Taiwan Semiconductor | 2.17 | 97 | |
| Robinhood Markets | 1.99 | 98 | |
| Axon Enterprise | 1.97 | 98 | |
| Nextracker | 1.92 | 98 | |
| Charles Schwab | 1.87 | 94 | |
| Shopify | 1.81 | 98 | |
| Trane Technologies | 1.81 | 93 | |
| JPMorgan Chase | 1.78 | 95 | |
| Arista Networks | 1.77 | 98 | |
| Booking Holdings | 1.65 | 95 | |
| Datadog | 1.61 | 97 | |
| Cadence Design Systems | 1.51 | 93 | |
| KLA | 1.51 | 99 | |
| Johnson Controls | 1.45 | 88 | |
| AppLovin | 1.44 | 89 | |
| Zscaler | 1.32 | 98 | |
| Lam Research | 1.14 | 97 | |
| Celestica | 1.04 | 99 |
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
