Top AI Investor Gavin Baker Bets Big on Nvidia With Leveraged Call Options

• Gavin Baker’s Atreides Management added a call option on NVIDIA (NVDA) in the company’s latest 13F. Baker also joins Astera Labs (ALAB) and Micron (MU).

• Baker sold his position in GitLab (GTLB) while accumulating other software names such as Unity Software (U) and Wix.com (WIX).

• A recent study found that there’s one habit that can double Americans’ retirement savings and take retirement from a dream to a reality. Read more here.

Gavin Baker isn’t a household name like Buffett or Druckenmiller, but his views on artificial intelligence are hugely influential among serious technology investors.

The Atreides Management founder is known for his podcasts that demonstrate extraordinary depth into semiconductors, deep-tech AI development, and the competitive landscape for AI chips. His latest 13F sends a powerful message: Baker is making one of the most aggressive bets on Nvidia yet.

Baker founded Atreides Management after years as a portfolio manager at Fidelity, where he managed technology funds. What sets him apart is his technical fluidity. His appearance on the podcast shows that he understands actual chip architecture, not just the balance sheet. He can discuss the details of the latest model developments, explain why memory configuration matters for AI, and illuminate competitive moats with true engineering understanding. When Baker bets on semiconductors, it carries weight, and his podcast appearances often set records for the shows he’s on.

Baker doesn’t just add NVIDIA (NASDAQ: NVDA) shares. He purchased call options on 3.5 million shares of NVIDIA stock. Baker said he is optimistic about NVIDIA in the near future.

Timing is important. Meta yesterday announced a multi-year, multi-generation partnership with NVIDIA that promises millions of Blackwell and Rubin GPUs. Meta has begun developing its own MTIA chips, but has strengthened its partnership with NVIDIA. This is a strong signal and validates Jensen Huang’s argument that general-purpose GPUs will replace custom ASICs.

NVIDIA’s revenue in the third quarter of fiscal year 2026 reached US$57.01 billion, a year-on-year increase of 62%, of which data center revenue reached US$51.2 billion. “Blackwell sales are breaking records and cloud GPUs are sold out,” Huang said on the earnings call. “Compute demands for training and inference continue to accelerate and compound, each growing exponentially.”

After NVIDIA and Meta announced this news, their stock prices rose nearly 3% today and are currently trading at $190 per share.

The average analyst price target is $253.88, indicating that Wall Street remains very bullish on NVIDIA at these prices. I predict the company may earn $9 to $10 per share in fiscal 2027, which would beat the current Wall Street consensus of $7.76. If NVIDIA can achieve this level of growth, its stock price could reprice, and Baker would be handsomely rewarded for his NVIDIA call option bet.

Baker also made significant contributions to Astera Labs (NASDAQ: ALAB). He increased the fund’s ownership from 62,050 shares to more than 1.6 million shares, an increase of nearly 2,500%.

So far, that bet has not panned out. Astera Labs shares have fallen 32% in the past month and are down a similar amount year to date (Remember, 13F filings show assets owned by the investor as of December 31, 2025).

Astera makes artificial intelligence connectivity chips, a key pipeline connecting GPUs in large data center clusters. The company reported fourth-quarter 2025 revenue of $270.58 million, beating estimates, but margin concerns triggered the sell-off. Baker has a long history with Astera, so his increased ownership in the company definitely warrants further investigation.

He also added that Micron Technology (NASDAQ:MU), join David Tepper and other smart money to load memory. Driven by AI memory demand, Micron’s revenue in the first quarter of fiscal year 2026 reached US$13.64 billion, a year-on-year increase of 57%. The stock is up 40% year to date, so this position has worked well.

Baker sells GitLab (NASDAQ:GTLB), down 58% from last year. Developer tools platforms face existential threats from artificial intelligence coding assistants like GitHub Copilot. Baker’s fund currently holds about 3.2 million shares of GitLab stock, down from nearly 5.5 million shares in the third quarter.

While Atreides downsized GitLab, it did acquire other software companies. Unity is one of the fund’s largest holdings, and Baker also has an Overweight rating on the fund. The bet didn’t pan out like Manchester United did hammered Early 2026. Baker also increased his holdings Vickers (NASDAQ: WIX). Wix has become a popular contrarian trade as they have popular vibe coding apps and trade at very reasonable multiples.

Most Americans vastly underestimate how far they will need to retire and overestimate how ready they are. But data shows that people who have a habit will have more than double Savings for those who don’t.

No, it has nothing to do with increasing your income, saving, cutting coupons, or even reducing your lifestyle. It’s simpler (and more powerful) than any of them. Frankly, it’s shocking that more and more people aren’t adopting this habit, considering how easy it is.