The current wave of artificial intelligence (AI) adoption began in early 2023, after the introduction of ChatGPT highlighted the vast potential applications involving generative AI. Nvidia (NASDAQ: NVDA), with its industry-leading graphics processing units (GPUs), quickly became the standard-bearer for the AI revolution. Its stock has gained 1,160% since then, which has investors eager to find the next Nvidia, and a strong contender could be hiding in plain sight.

While Nvidia stock has gained a respectable 33% over the past year, (NASDAQ: AVGO) has been on a tear, as its stock has soared 96% (as of this writing). Several recent developments help illustrate why investors are increasingly bullish on Broadcom stock, and why the company could well be the next Nvidia.

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Source Fool.com