Investors have regained confidence in technology stocks once again in 2023 amid favorable economic data points such as cooling inflation and a resilient global economy. The International Monetary Fund raised its global growth forecast from 2.7% to 2.9%, and that's no doubt aided the Nasdaq Composite index's terrific rise of nearly 16% so far this year.

This impressive jump has rubbed off positively on Nvidia (NASDAQ: NVDA), with the stock shooting up over 51% in 2023. Investors owning this semiconductor stock in their portfolios may want to continue holding it because there's every reason to think it can sustain its hot rally. Let's look at why that may be the case.

Nvidia faces a major challenge in the form of weak personal computer (PC) sales that have crushed its gaming segment in recent quarters, but there are a few solid growth drivers that may help the chipmaker outpace the market's expectations in 2023.

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Source Fool.com