Nvidia Corp (NASDAQ:NVDA, ETR:NVD) remained the most heavily bought stock on Robinhood’s UK platform in May, as a wave of investor interest in artificial intelligence and cryptocurrency continued to shape retail trading patterns.
The US chipmaker, whose processors power many AI systems, kept its lead position following a strong set of quarterly results and news of a $40 billion deal with Oracle.
The agreement will see Nvidia supply hardware for a major data centre project in Texas, part of the so-called Stargate AI initiative.
However, the company also revealed a $5.5 billion inventory write-down during the month, prompted by new US export restrictions on chip sales to China.
Tesla Inc (NASDAQ:TSLA) held on to second place, despite fresh signs of weakness in its core car business and a growing unease with founder Elon Musk's involvement with the Trump administration (though he has now departed his position with DOGE).
The company's robotaxi roll-out appears to have caught the imagination of UK followers, according to Dan Lane, lead analyst at Robinhood UK. A potential update to the company’s Model Y is also expected this summer.
New entrants to May’s top ten included Apple Inc (NASDAQ:AAPL, ETR:APC) and Hims & Hers Health, the latter benefiting from its offering of cheaper subscriptions to GLP-1 weight-loss drugs.
These drugs, which include blockbuster treatments like Wegovy, have faced production shortages globally. Hims saw its share price reach new highs during the month following strong earnings.
Apple’s inclusion in the list came as shares dipped amid geopolitical concerns. Former US president Donald Trump threatened to impose a 25% tariff on iPhones manufactured outside the United States. However, a jump in iPad sales and a $100 billion share buyback plan helped reassure investors.
Several AI-focused companies featured prominently again. Super Micro Computer rose up the ranks, helped by a $20 billion partnership with Saudi firm Datavolt to build artificial intelligence infrastructure. “The market certainly seemed to look past [Super Micro’s] accounting woes in May,” said Lane.
Palantir continued to attract buyers, buoyed by rising demand for its data analytics tools and a perceived easing in tensions between the US and China. Its shares hit record highs during the month.
Meanwhile, interest in digital assets remained strong. Strategy, the software company turned bitcoin investor, saw its stock trade higher as the cryptocurrency surged in value, although some investors questioned whether its valuation had run too far.
Coinbase, the crypto exchange, also gained attention after being added to the S&P 500 index.
CoreWeave, a relative newcomer following its March market debut, climbed into the top ten for the first time. The cloud computing firm has drawn interest through its links to OpenAI and the wider AI sector. “We’ll have to see whether earnings eventually back up the price rises,” Lane noted.
Robinhood UK’s latest data offers a snapshot of where retail money is flowing, and the influence that hype around artificial intelligence and digital assets still holds.
May’s top ten was: Nvidia, Tesla, Hims & Hers Health, Strategy, Super Micro Computer, Robinhood, Coinbase, Palantir, CoreWeave and Apple.