Nvidia Seems Poised to Enter the Multibillion-Dollar Custom Artificial Intelligence (AI) Chip Market
The Motley Fool
MAY 13, 2024
Nvidia (NASDAQ: NVDA) stock is on fire. Shares of the artificial intelligence (AI) chip leader have gained 81.5% so far in 2024, and are up 531% over the last three years through May 10. The S&P 500 index has returned 10% and 31.9%, respectively, over these periods. The stock's gains are mostly being driven by powerful demand for the company's AI-enabling graphics processing units (GPUs) and related offerings for data centers.
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