Up Nearly 80% This Year, Does Nvidia's Stock Have Room for More?
After having an incredible 2023, Nvidia (NASDAQ: NVDA) hasn't slowed a bit in 2024. It's up nearly 80% this year, placing among the top-performing stocks again in back-to-back years.
But because of such a tremendous start, most wonder if Nvidia has room for more upside. I think it does, but there's also a possibility it could reverse course.
Nvidia has been a rockstar of a stock because of its ties to artificial intelligence (AI). Its primary product, graphics processing units (GPUs), are an integral part of training AI models due to their ability to compute in parallel. When GPUs are tasked to train an AI model, companies don't just use one or two of them. Instead, they use thousands to increase the computing power.
Source Fool.com
