The stock market has gotten off to a roaring start in 2024. Both the S 500 and Nasdaq Composite are trading at record levels, and the momentum doesn't appear to be slowing down.

One of the big contributors to market gains this year is big tech. Indeed, the "Magnificent Seven" stocks have become synonymous with all things related to artificial intelligence (AI).

Among this cohort of megacap tech, Nvidia (NASDAQ: NVDA) might be the most closely followed -- and for good reason. The company's graphics processing units (GPUs) and data center services are acting as the main engine for an ever-evolving list of generative AI applications across all industry sectors.

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Source Fool.com