3 Reasons to Buy Nvidia Stock Before July 29

No company in the last year has captured the attention of the investing world quite like Nvidia (NASDAQ: NVDA). The chipmaker dominated headlines as its stock price more than doubled since January, and with good reason; it's proven itself as one of the most important and central companies in the artificial intelligence (AI) boom -- a role that has allowed it to rake in dizzying amounts of cash.

AI, if its evangelists are to be believed, has the power to completely transform the global economy, a technological revolution on par with the internet. It's important to maintain a healthy skepticism in the face of so much optimism. Promises of this scale have been made before and they haven't always turned out well for the investors involved. Still, there is reason to think this isn't a simple hype bubble. The potential is certainly self-evident. The crux is whether these companies can deliver on that promise.

Nvidia CEO Jensen Huang will join Meta Platforms CEO Mark Zuckerberg on July 29 to discuss the future of AI at a conference dubbed SIGGRAPH 2024. Hopefully, hearing from two leaders at the forefront of AI will shed some light on developments. Whether the event itself will have a material impact on Nvidia's share price is impossible to know, but there's certainly a chance the two would announce some sort of exciting partnership. Regardless, as the event approaches, let's consider three reasons Nvidia is still a buy.

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Source Fool.com