According to NVIDIA’s most recent 13F filing, Q3 Asset Management increased its position in NVIDIA shares by 1,504.9% during the third quarter, acquiring an additional 19,232 shares to hold a total of 20,510 shares. This new stake, valued at roughly $3.8 million at the time of filing, now represents 1.3% of the firm’s portfolio and ranks NVIDIA as its ninth largest holding. This dramatic increase underscores growing confidence among specialty asset managers in NVIDIA’s leadership of the AI semiconductor market.

NVIDIA reported a record order backlog exceeding $170 billion, driven by sustained demand for its H100 and A100 AI data-center GPUs. This backlog implies at least two more years of revenue visibility at current shipment rates, with data-center revenues growing 81% year-over-year in the most recent quarter and accounting for over 70% of total revenue. Investors are watching closely as hyperscalers lock in supply for generative AI training and inference workloads.

Market consensus remains overwhelmingly bullish, with four firms assigning a Strong Buy rating and forty-seven issuing Buy opinions. The consensus revenue estimate for the upcoming fiscal year stands at $300 billion, reflecting expected growth above 50%. Meanwhile, insiders have been net sellers, with executive vice president Debora Shoquist and director Mark A. Stevens each reducing their holdings by over 4% through combined sales exceeding 430,000 shares in the past quarter—a move that typically triggers scrutiny but has not dampened analyst enthusiasm.