The latest quarterly stock data from trading and investment platform eToro showed that retail investors are favoring AI stocks, including Nvidia.

The report showed a significant shift in the rankings of the most popular stocks on eToro. Nvidia rose to become the second most popular stock on the platform, behind only Tesla. This rise is notable because Nvidia was ranked fourth at the end of the first quarter and seventh three months earlier. The company has continued to attract new users, helped by a 37% increase in its share price over the most recent quarterly period.

While Nvidia dominates AI headlines, other AI companies are also attracting attention. Dell Technologies, which saw a 45% increase in holdings on the eToro platform, has recently made several AI product announcements and is seen as a potential supplier to Ilon Musk's new startup, xAI.

Semiconductor companies Broadcom and Micron Technology also saw significant user growth, up 33% and 27% respectively. MongoDB, a company that helps other firms implement generative AI, recorded a 24% increase in the number of holders.

Continuing the trend of the first quarter, several European stocks figured prominently in the list of growth leaders. French energy company Air Liquide topped the list with a 139% increase in holders following news that it will supply energy to semiconductor chip maker Micron. Spanish companies Banco Santander and Repsol also posted notable gains, with 32% and 26% rises respectively.

Commenting on the data, eToro analyst Sam North said, "There are a variety of opportunities for investors in AI, and it's good to see eToro users looking at the entire ecosystem. Nvidia's rise means it will continue to take center stage, but there's no doubt there will be other big AI winners in various shapes and sizes."

Among the fall leaders in the second quarter, eToro users identified Reddit, where the number of holders fell by 40% following its March IPO. ZIM Shipping Services and Puma also saw a 23% and 16% drop in the number of holders, respectively. Investors appear to have lost patience with Puma due to the poor performance of its share price.

North said: 'In the last quarter, retail investors have demonstrated their ability to capitalize on market dynamics, as seen in the success of investments such as Reddit and ZIM Shipping. Understanding when to lock in profits and reinvest elsewhere is a fundamental aspect of smart investing."

The eToro data underscores the changing interests of retail investors who are increasingly looking towards AI and diversifying their portfolios. As Nvidia continues its upward trajectory, other AI-related stocks and European companies in various sectors are also attracting investor attention.