Last year, Nvidia (NASDAQ: NVDA) suffered the brunt of a sell-off that pulled its stock down 50% throughout 2022. However, tech is a forever-evolving industry that sometimes sees a company's luck turn on a dime as new developments bring new opportunities. 

For instance, Nvidia has thrived in 2023 as its prospects in the burgeoning artificial intelligence (AI) industry sent its stock soaring 57% since Jan. 1. Wall Street has rallied with the knowledge that the company is home to devices capable of running and developing AI software.

However, prospective investors should be wary of Nvidia's threatened position in the slowing consumer graphics card processing (GPU) market.

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Source Fool.com