Despite the sluggish start to 2026, Nvidia (NASDAQ:NVDA | NVDA Price Prediction) remains at the very front of the AI chip race, and its CEO Jensen Huang arguably remain the face of the AI revolution. With Vera Rubin chips ahead, and circular deals that might actually be creating great loyalty on the part of firms getting in on the action (it’s certainly easier to gain access to next-gen AI compute as a loyal friend of the great Nvidia), it seems smart to stay in the bull camp even if there’s a lack of more-recent momentum to get behind.
Arguably, the long-term bulls would view the sideways action as more of a chance to top up positions on the cheap, rather than a sign that things are starting to get a bit “toppy.” While there has been a remarkable amount of buying activity in Nvidia on the part of big-league smart money managers, there have also been quite a few sellers as well, some of whom may be more inclined to look for some of the less-obvious AI winners that are just down the stream.
Nvidia may stay the AI chip king, but other winners will emerge
Personally, I think Nvidia will remain a dominant force as it continues to drive the revolution forward at the fastest pace possible. That said, there’s still no telling when the stock will start moving steadily higher again, especially after the latest (blowout) quarter and developments (think those remarked upon at CES and GTC 2026) failed to induce the next leg higher in the stock.
In any case, this piece will look at a few smart money managers that seem to be looking to diversify their big AI chip bets beyond Nvidia. It’s good to have a high level of conviction in a company that’s made you big money, but it’s also wise to diversify. After all, Nvidia is unlikely to be the only big AI winner as the race continues through a more challenging, but still fiercely-competitive 2026.
Of course, 2026 is all about the “show me the money” phase of AI. With so much CapEx going into chips and everything else that goes into a next-generation AI data center, investors are acting prudently. And, ultimately, it’s this narrowing focus on monetization that might prevent AI from entering a big bubble that bursts and drags down the entire economy with it.
In any case, I think investors should look to what Nvidia itself has been investing in of late to get a sense of the other opportunities in the space, some of which might offer a better value for money after the latest slide lower across the tech scene.
Could betting on what Nvidia’s investing in be wise?
Whether we’re talking about Coherent (NASDAQ:COHR) or Lumentum (NASDAQ:LITE), which split a $4 billion investment from Jensen Huang’s company, to play next-generation optical connectivity in the data center, or CoreWeave (NASDAQ:CRWV), another solid Nvidia bet, for a piece of the neocloud, there is a growing list of AI winners that investors might wish to set their sights on, preferably on weakness.
Of course, lasers and photonics are profound technologies that could reshape AI infrastructure, but for a growth investor, it can be tough to figure out what the right price of admission is. After all, Coherent, Lumentum and CoreWeave shares do not come cheap. Not based on price-to-earnings (P/E) or price-to-sales (P/S). Still, if you want to invest in cutting-edge AI innovators, sometimes you have to invest like one.
And with Jensen Huang showing his hand multiple times this year, I’d argue that keeping such growth names on the radar isn’t all too bad an idea, especially if the AI sell-off has more room to the downside. Indeed, it’d be nice to get a better price of admission than the titans at some point!
Chase Coleman’s been making smart moves in the last quarter
Chase Coleman over at Tiger Global Management is another brilliant tech investor who trimmed (very slightly) into the Nvidia position last quarter, while deploying cash in a wide range of names, from South Korean e-commerce firm Coupang (NASDAQ:CPNG) to Pony AI (NASDAQ:PONY).
Undoubtedly, e-commerce stands out as a great place to score operating margin gains as AI finds its way to logistics. And in that light, Coupang stands out as a smart bet, especially after taking a dive in the back half of 2025. As for Pony AI, it’s a Chinese autonomous driving force that may be quietly driving ahead of rivals. In terms of applied physical AI, it really doesn’t get more exciting than autonomous driving.
Either way, some of the smart money is looking above and beyond Nvidia. And while Nvidia remains a great play, diversification is never a bad idea as the revolution matures.
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