Advances in artificial intelligence (AI) have led to rising share prices in a broad cross-section of the market this year, but no stock has been more profoundly impacted than Nvidia (NASDAQ: NVDA). While macroeconomic headwinds weighed on the chipmaker's performance last year, its 2023 has so far been stellar.

Advancements in large language models (LLMs) and widespread efforts to adopt generative AI have resulted in surging demand for the cutting-edge semiconductors required to power the technology. Nvidia produces most of those chips, and its ballooning sales figures sent the stock soaring.

New export controls announced by the Biden administration this week could weigh on Nvidia's rebound, but shareholders shouldn't panic.

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Source Fool.com