Only two years ago, Nvidia's (NASDAQ: NVDA) biggest source of revenue was the sale of its graphics processing units (GPUs) to gamers, who use the chips to build high-powered gaming PCs.

However, a lot has changed for the company since the launch of ChatGPT's OpenAI last November. The tech giant's over-85% market share in GPUs saw it get a headstart in artificial intelligence (AI), becoming the primary chip supplier for countless companies.

As a result, Nvidia's stock has skyrocketed about 230% year to date alongside soaring revenue that hit new heights quarter to quarter. The company is on a promising growth path and likely has much to offer investors over the long term. But its meteoric rise has also made its stock expensive compared to those of other AI-minded companies.

Continue reading

Source Fool.com