If you put $10,000 in Nvidia (NASDAQ: NVDA) stock 10 years ago, you would have $2.74 million today -- a life-changing return of over 27,400%. Over that time frame, the company has experienced several boom-and-bust cycles based on demand for its graphics processing units (GPUs). Let's dig deeper into what the next decade could have in store.

Historically, Nvidia has experienced several boom-and-bust cycles based on macroeconomic factors and industry dynamics outside its control. Soon after its initial public offering (IPO) in 1999, the company enjoyed explosive growth based on demand for its GPUs for personal computers and video game consoles like 's Xbox.

These are now somewhat mature and highly cyclical markets because they rely on nonessential discretionary spending that can be cut in challenging economic conditions. But by 2010, Nvidia was rescued by a brand-new industry: cryptocurrency mining.

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Source Fool.com