Nvidia Dominates the AI Market, but Don't Ignore These 3 Challengers
Nvidia's (NASDAQ: NVDA) stock soared 1,420% over the past five years. Its growth was largely driven by the expansion of the artificial intelligence (AI) market, which prompted more companies to install its high-end GPUs in their data centers.
Nvidia generated 80% of its revenue from its data center chips in its latest quarter, while its gaming business -- its original growth engine prior to the AI boom -- only brought in 16% of its revenue. The bulls believe Nvidia's data center business will continue growing as companies develop more advanced generative AI platforms and large language models, and that its GPUs will remain the industry standard for processing those complicated tasks.
Nvidia CEO Jensen Huang. Image source: Nvidia.
Source Fool.com
