Nvidia (NASDAQ: NVDA) has been one of 2023's best-performing tech companies, with shares up by more than 200% year to date. That rally, which lifted it to mega-cap status, was largely driven by optimism about the outlook for artificial intelligence (AI) and its ability to supercharge the chipmaker's top and bottom lines.

No doubt, there's plenty of good reason for investor enthusiasm about Nvidia, but with its shares already at lofty levels, is the stock still a buy?

Since the launch of OpenAI's generative chatbot ChatGPT in late 2022, AI has taken the investment world by storm, and tech companies have raced to bring their competing platforms to market. But while juggernauts like Alphabet and  invest billions in consumer-facing chatbots, Nvidia enjoys a potentially more profitable niche as the main supplier of the graphics processing units (GPUs) that provide the computing power necessary for training those applications and running them. 

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Source Fool.com