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Nvidia's Stock Is Up More Than 200% in 2023. Is It Still Worth Buying as an Artificial Intelligence Play?

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Nvidia's Stock Is Up More Than 200% in 2023. Is It Still Worth Buying as an Artificial Intelligence Play?: https://g.foolcdn.com/editorial/images/747020/nvidia-voyager.jpg

Nvidia's (NASDAQ: NVDA) stock has more than tripled since the beginning of the year. That rally was driven by the explosive growth of the artificial intelligence (AI) market, since its data center GPUs are widely used to process advanced AI tasks.

However, investors might be reluctant to invest in Nvidia after those massive gains. Let's review its growth rates and valuations to see if it's still a worthwhile investment on the AI market.

Image source: Nvidia.

Source Fool.com

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