Bouvel Investment Partners LLC has increased its stake in NVIDIA Corporation (NASDAQ: NVDA), raising its position by 3.2% during the latest quarter.

According to the firm’s most recent filing, Bouvel now owns 76,961 shares of the chipmaker, valued at approximately $12.16 million. The move makes NVIDIA the third-largest holding in Bouvel’s portfolio, representing about 4.1% of total assets.

The investment comes as NVIDIA continues to deliver strong financial results. The company recently reported earnings per share of $1.05, topping Wall Street estimates, with revenue surging 55.6% year over year to $46.74 billion.

Analysts remain bullish on the stock. Several firms have lifted their price targets in recent weeks, with Bank of America increasing its projection from $220 to $235. Sentiment has also improved following the easing of U.S. export restrictions on certain AI chips to China, a development seen as positive for NVIDIA’s global growth outlook.

Shares of NVIDIA were last trading around $178.19, with a market capitalization exceeding $4.3 trillion, cementing its position as one of the most valuable technology companies in the world.