Nvidia (NASDAQ: NVDA) took the gold medal for the number of times "AI" (artificial intelligence) was mentioned on its latest earnings call. And for good reason. In a new era where operational efficiency is the focus of the business world, Nvidia has built itself into far-and-away the top platform for building AI systems to unlock new computing technology use cases for companies and new cost-saving opportunities.

The emergence of the AI economy is a long-term thesis for owning Nvidia right now, but the more notable news on the last earnings update was that the company would be returning to growth again. It doesn't completely justify the more than 60% run-up in the stock price so far in 2023, nor the more than doubling in share price from lows last reached in mid-October 2022.

Stock prices are volatile, and investors should fully expect a pullback in Nvidia from these levels. Nevertheless, the bear market (i.e., when a stock falls at least 20% from all-time highs and investor confidence in the company is low) is over for Nvidia.

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Source Fool.com