Chipmaker Nvidia (NASDAQ: NVDA) has become a Wall Street darling. It's soared by a whopping 215% year to date as it takes advantage of the opportunity in artificial intelligence (AI), which boosts demand for its cutting-edge hardware.

Despite rising competition and a seemingly high valuation, the tech giant still looks poised to outperform. Here's a deeper look.

Since its founding in 1993, Nvidia has been on the cutting edge of computer hardware because of its focus on graphics processing units (GPUs). This type of chip was initially designed to handle computer graphics and image processing, especially for video games. 

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Source Fool.com