Emerging technologies like artificial intelligence and autonomous driving are becoming increasingly relevant, so we were excited to have the opportunity to invest in two companies empowering this future after their stocks fell for short-term reasons. NVIDIA (NASDAQ:NVDA) is the leading provider of graphics processing units (GPUs). GPUs were traditionally used in gaming and professional visualization applications, but have also become critical for delivering accelerated computing power in data centers, autonomous driving and machine learning. We believe the company is uniquely positioned to take advantage of these large and rapidly growing markets.
From Jerome Dodson (Trades, Portfolio)'s Parnass Funds' fourth-quarter 2018 shareholder letter.