4 Reasons to Buy Nvidia Stock Like There's No Tomorrow
Nvidia (NASDAQ: NVDA) became a Wall Street darling last year when a boom in artificial intelligence (AI) highlighted the massive potential of its business. Its stock climbed 214% since last February and has shown no signs of slowing, rising 40% since the start of 2024.
The launch of OpenAI's ChatGPT reinvigorated interest in AI and caused countless tech firms to restructure their businesses to prioritize the developing market. Increased demand for AI services boosted graphics processing unit (GPU) sales accordingly, as the chips are crucial for training AI models.
As a leader in GPUs, Nvidia's business exploded over the last year. Meanwhile, the AI market's compound annual growth rate of 37% until at least 2030 suggests GPU demand is unlikely to slow. Consequently, Nvidia remains one of the best ways to invest in the high-growth sector and tech in general.
Source Fool.com
