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Nvidia Impact: 5 mutual funds with the biggest exposure in this global chipmaker

27 February 20244 mins read by Angel One
Explore the meteoric rise of Nvidia and its impact on the Indian mutual fund industry, as the company becomes the world's 4th largest by market cap.
Nvidia Impact: 5 mutual funds with the biggest exposure in this global chipmaker
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The Indian mutual fund industry is abuzz with excitement over its substantial exposure to global chipmaker Nvidia. The company recently surged to become the world’s fourth-largest company by market capitalisation, following an impressive quarterly earnings report that exceeded analyst expectations.

Indian Mutual Fund Industry’s Exposure to Nvidia

The Indian mutual fund industry has a significant stake in Nvidia, with total exposure amounting to Rs 1,699 crore. Fisdom estimates reveal that Motilal Oswal MF leads the pack with Rs 439 crore exposure, followed by Mirae Asset MF (Rs 280 crore), Franklin India MF (Rs 280 crore), Axis MF (Rs 169 crore), and Kotak MF (Rs 143 crore).

Exposure to Nvidia (Rs Crore) % of portfolio 1Y Returns (% p.a) 3Y Returns (% p.a)
Motilal Oswal Nasdaq 100 ETF 326 4.6 48.62 15.77
Mirae Asset NYSE FANG + ETF 226 12.1 81.04 NA
Franklin US Opportunities Fund 200 6 43.32 7.76
Kotak NASDAQ 100 FoF 143 4.9 49.34 16.42
Motilal Oswal S&P 500 Index Fund 113 3.7 28.72 15.01

Nvidia’s Meteoric Rise

Nvidia’s stock experienced a remarkable one-day gain of 16% on Thursday, February 22nd, 2024, driven by optimism surrounding artificial intelligence (AI). The company’s chips play a crucial role in the development of AI models, which has contributed to its soaring market capitalisation.

Global Recognition

Nvidia’s market capitalisation recently surpassed $2 trillion for the first time, making it the third-largest company in the US, behind only Microsoft Corp and Apple Inc. Globally, Nvidia ranks as the fourth-largest company by market capitalisation, trailing only behind oil giant Saudi Aramco.

Impact on the S&P 500

Nvidia’s impressive performance has been a significant contributor to the S&P 500’s gains, accounting for more than a quarter of the stock index’s rise this year. The company’s dominance in the graphics chip market, particularly for AI applications, has positioned it as a key player in the rapidly evolving tech landscape.

Ripple Effects in India

The surge in Nvidia’s shares has also led to a rally in semiconductor-related stocks in India, such as ASM Technologies and SPEL Semiconductors, highlighting the interconnected nature of the global tech industry.


Nvidia’s ascent to the top echelons of the global market is a testament to its innovative prowess and strategic positioning in the AI and semiconductor markets. Its impact is not only felt globally but also resonates strongly within the Indian mutual fund industry, underscoring the industry’s keen interest in high-growth tech stocks like Nvidia.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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