The artificial intelligence (AI) market has exploded this year, with the launch of OpenAI's ChatGPT reigniting interest in the technology. AI has the potential to boost countless industries, including education, healthcare, consumer products, cloud computing, e-commerce, and more. As a result, companies developing the chips that make AI possible have enjoyed major stock gains in 2023.

Shares of Nvidia (NASDAQ: NVDA) soared 220% year to date, with Advanced Micro Devices (NASDAQ: AMD) up 87%. Nvidia rallied investors by getting a head start in AI thanks to its years of dominance in graphics processing units (GPUs). Meanwhile, AMD is gearing up to launch a powerful new chip in 2024 that could shake up the market.

As leading chipmakers, Nvidia and AMD have been closely compared for years. They both offer attractive ways to invest in AI, and could go far over the long term. So let's take a closer look at these companies and determine whether Nvidia or AMD is the better stock to invest in the $137 billion AI market.

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Source Fool.com