's (NASDAQ: NVDA) graphics chips are widely used for artificial intelligence (AI) workloads. While AI will almost certainly prove to be a transformative technology, there's a decent chance that a bubble is brewing. The internet was transformative, after all, and it still produced the mother of all bubbles.

AI hype is one reason why shares of NVIDIA have shot through the roof this year. Despite tumbling revenue and profit in the latest quarter, driven by crashing demand for PCs and the end of the cryptocurrency bubble, NVIDIA stock has more than doubled so far in 2023.

Is AI going to reignite NVIDIA's growth story? It very well could, but you'll be paying a historically high price for the stock to find out.

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Source Fool.com