Nvidia (NASDAQ: NVDA) has been on top of the world over the last year as it has cornered the market on artificial intelligence (AI) chips, with its stock up more than 247% since last March.

As demand for AI services soared, so has the need for graphics processing units (GPUs) -- the chips necessary for training and running AI models. Meanwhile, Nvidia has held a leading market share in GPUs for years, perfectly positioning it to immediately begin supplying its chips to AI developers everywhere.

Consequently, Nvidia's earnings have skyrocketed as it achieved a majority market share in the AI GPU market while competitors like Advanced Micro Devices and Intel have scrambled to catch up.

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Source Fool.com