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Nvidia's AI Demand Is Off The Charts. Is the Stock a Buy?

TheMotleyFool

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Nvidia's AI Demand Is Off The Charts. Is the Stock a Buy?: https://g.foolcdn.com/editorial/images/734080/person-looking-at-data-on-computer-screens.jpg

Every now and again, a company reports a quarter that blows everyone's socks off. Nvidia's (NASDAQ: NVDA) latest results fit this description perfectly, although the key focus of its report was its outlook.

AI (artificial intelligence) is a crucial driver of this optimism, but is it enough to buy the stock? Let's find out.

Before this quarter, Nvidia struggled to drum up demand for its graphics processing units (GPUs) thanks to a weak PC market. This headwind is still raging, as GPUs used for crypto mining and gaming continue to struggle -- gaming revenue was down 38% to $2.24 billion in Q1 of FY 2024 (ending April 30).

Source Fool.com

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