Here's Why Nvidia Is Still My Top Artificial Intelligence (AI) Stock
Nvidia (NASDAQ: NVDA) shares have skyrocketed in recent times, climbing 130% this year and more than 600% over the past three years. All of this is due to Nvidia's shift from a company serving primarily the video game industry to one that's critical to the development of artificial intelligence (AI) platforms.
The tech giant makes graphics processing units (GPUs), chips that traditionally have powered the speed and special effects involved in gaming -- and today these chips also are powering crucial AI tasks such as the training and inferencing of AI models. This has helped Nvidia's earnings to soar in the triple digits in recent quarters.
Some investors worry about buying Nvidia stock today, though, considering its major gains -- and the fact that rivals are attempting to grab market share. But I think there's still plenty of room for Nvidia to advance from an earnings and a share performance perspective, and that's why it's still my top AI stock. Let's check out the details.
Source Fool.com
