 "Nvidia")
US-based chipmaker Nvidia is in the limelight among global investors as the company recently reached a market capitalisation of $2 trillion on February 23, after more than doubling its stock price in the last year. The company vaulted from $1 trillion to $2 trillion market value in around eight months - the fastest among US companies and in less than half the time it took tech giants Apple and Microsoft. The company is riding on insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom.
On February 22, the day after earnings were announced, the AI chipmaker’s stock witnessed a single-day surge of more than 16 per cent. Nvidia is now the world’s fourth-largest company by market capitalization after its quarterly earnings beat analyst expectations. Nvidia's chips are crucial for developing extensive AI models like those by Microsoft and Meta.
Following the rally, Fisdom Research Research has released a report of Indian mutual funds that have exposure to Nvidia on Nasdaq.
AMC Level exposure
 "NVIDIAEXPOSUDMS")
AMC Level exposure
Indian mutual funds have an exposure of Rs 1,699 crore (on an AMC level) to Nvidia. Some of the top fund houses with exposure to the chip maker's stock include Motilal Oswal, Mirae, Franklin, Kotak and Edelweiss.
According to Fisdom estimates, Motilal Oswal MF had Rs 439 crore exposure to Nvidia. Mirae Asset MF had Rs 280 crore exposure, followed by Franklin India MF at Rs 280 crore, Axis MF at Rs 169 crore and Kotak MF at Rs 143 crore.
Non-Broad-Based Passive Funds Exposure to NVIDIA
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 "motilalsjdos")
Active domestic mutual fund scheme exposure
 "activeexposmf")
Point to note: Axis Mutual Fund is the only fund house to have an active investment in the company via two schemes. Axis Special Situations Fund has Rs 8.4 crore exposure, while Axis Growth Opportunities Fund has Rs 118.5 crore exposure.The overall exposure in the two schemes to Nvidia is up to 1 per cent each.
Impact on Broad-based fund performance
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Impact on funds which are not broad-based
 "activeimpacrsl")
At the scheme level, Motilal Oswal Nasdaq 100 ETF had Rs 326 crore (4.6% of portfolio) exposure to Nvidia. Mirae Asset NYSE FANG+ ETF had Rs 226 crore exposure (12.1%). Franklin India Feeder-US Opportunities Fund had Rs 200 crore (6% exposure) to Nvidia.
"Nvidia’s recent financial performance exceeded forecasts significantly, with fourth-quarter revenues reaching $22.1 billion, marking a 265% increase from the previous year. As a result, Nvidia’s market capitalization increased by $277 billion in a single day, surpassing the entire market value of giants like Coca-Cola or Reliance Industries Limited (RIL), each valued at around $260 billion. Now, Nvidia ranks as the third-most valuable company in the US stock market, only behind Microsoft and Apple and ahead of Amazon and Alphabet," said overseas investment platform Vested Finance in a a note.
Nvidia’s success is largely attributed to its pivotal role in the artificial intelligence (AI) sector, with its H100 chips being essential for advancements in AI across various sectors.
The company is now the sixth most widely held stock on the platform, while it was not even in the top 10 a year ago.
The company is now the sixth most widely held stock on the platform, while it was not even in the top 10 a year ago.
In volume terms, it is the second most popular stock on Vested Finance in the last six months with trading volumes of more than $25 million. The average trading volume per user is almost 5x in February 2024 compared to February 2023.
