Nvidia

Nvidia benefits from highly capable and shareholder-aligned management, led by founder-CEO Jensen Huang. Huang has been at the helm since founding the company in 1993, and his track record is stellar: he foresaw graphics and GPU evolution, and early embraced AI and data center opportunities.

He still owns a multi-percent stake, aligning his interests with shareholders. Under his leadership, Nvidia pivoted successfully from gaming to data-center AI, and created the CUDA ecosystem that drives the company’s moat.

His capital allocation decisions (e.g. acquiring Mellanox in 2020, investing in self-driving and AI startups) have generally paid off. Recent public statements show his clear strategic view: “Accelerated computing and generative AI have hit the tipping point.

Demand is surging worldwide”, and he highlights that Nvidia’s platform is now serving “vertical industries — led by auto, financial services and healthcare — at a multibillion-dollar level”. We view this leadership and vision as a significant asset.