Nvidia (NASDAQ: NVDA) became one of the hottest tech stocks over the past decade as the artificial intelligence (AI) market expanded. The chipmaker, which had previously generated most of its revenue from gaming GPUs, expanded into the data center space with more powerful GPUs that made it easier to process AI tasks.

That first-mover's advantage lit a fire under Nvidia's business as large companies upgraded their AI capabilities. As a result, its revenue grew at an impressive compound annual growth rate (CAGR) of 31% from fiscal 2014 to fiscal 2024 (which ended this January) while its stock skyrocketed 16,570% over the past 10 years. Analysts expect its revenue to continue growing at a CAGR of 35% from fiscal 2024 to fiscal 2027.

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Source Fool.com