Investors Are Piling Into Nvidia Stock. But Nvidia Is Investing in 5 Other AI Stocks.
Over any meaningful time span, Nvidia (NASDAQ: NVDA) has been a blockbuster investment. It's up almost 1,800% over the last five years, and it has more than tripled in the past year alone, fueled by investors' excitement for artificial intelligence (AI).
There's good reason to believe Nvidia is a top AI stock. Management attributes its surging revenue to AI-related products and services. To illustrate how strong demand is, the company expects to report revenue of $20 billion in its fiscal 2024 fourth quarter. That would be a 231% year-over-year increase -- simply astounding for a company of this size.
AI is the top investment trend right now, and Nvidia stock is one of the most popular ways to ride the trend higher. However, for its part, the company is buying shares of five other AI companies.
Source Fool.com
