Will Artificial Intelligence (AI) Allow Nvidia to Crush Apple and Microsoft, and Become the Most Valuable "Magnificent Seven" Stock?

Nvidia (NASDAQ: NVDA) has emerged as the hottest player in the artificial intelligence (AI) space. Its cutting-edge graphics processing units (GPUs) are the most important hardware element of the servers that run advanced AI applications.

In the particularly high-margin category of GPUs tailored to run AI and other accelerated computing applications, Nvidia currently commands roughly 90% of the market. While competitors, including Advanced Micro Devices and Intel, are making moves to ramp up their capabilities in the ultra-high-performance GPU space, many analysts expect Nvidia to retain its incredible strength in the category.

With incredible performances behind it and management guiding for further explosive growth, Nvidia stock has risen by 240% over the last year and is up 82% so far in 2024.

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Source Fool.com