Artificial intelligence (AI) has spread like wildfire since early last year, and the benefits are clear. These generative AI algorithms take AI to the next level, creating original text, images, and video from a few simple prompts. As a result, users can simplify mundane and time-consuming tasks and increase productivity. As the old adage states, "Time is money," so businesses are eager to adopt these next-generation systems.

There's little argument that Nvidia (NASDAQ: NVDA) has reaped the early rewards of this paradigm shift as the leading provider of the processors and other hardware used to facilitate AI. This led to four consecutive quarters of triple-digit year over year revenue and profit growth, a dividend boost, and an upcoming 10-for-1 stock split.

However, the market is forward-looking, and investors are already beginning to anticipate the coming wave of AI software adoption. Generative AI software sales are expected to surge 6,260% to $318 billion by 2032, according to Bloomberg Intelligence.

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Source Fool.com