3 Billion Reasons to Buy Nvidia Stock Hand Over Fist Right Now

Artificial intelligence (AI) gave Nvidia (NASDAQ: NVDA) stock a big boost in 2023 thanks to the terrific demand for the company's data center graphics cards, which are playing a central role in the training of AI models. And it looks like the windfall gains for the chipmaker aren't going to stop.

Electric vehicle (EV) maker (NASDAQ: TSLA) is likely going to give Nvidia's business a nice shot in the arm over the next year and contribute a substantial chunk of the company's data center revenue. Let's see why that may be the case.

Tesla recently pointed out that it will start building its AI-focused supercomputer, christened Dojo, this month. By January 2024, Tesla plans to equip Dojo with 100,000 of Nvidia's A100 data center GPUs (graphics processing units). The EV maker plans to eventually deploy a whopping 300,000 Nvidia A100 GPUs by October next year, giving Dojo a massive computing capacity of 100 exaflops.

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Source Fool.com