Following the launch of OpenAI's ChatGPT, generative artificial intelligence (AI) has taken the market by storm, helping send the S 500 Index up 25% year to date. Industry leaders such as Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) have been key in helping power the rally because of their fast-growing chip businesses.

Let's discuss why 2024 could be even more exciting for these two AI-related stocks.

With shares up a jaw-dropping 246% in 2023, Nvidia is arguably the biggest winner in 2023's AI gold rush. And unlike some other AI companies, its operating performance has surged to match the hype. It isn't too late for investors to bet on Nvidia's continued success because of its reasonable valuation and spectacular margins.

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Source Fool.com