Nvidia has been one of the top-performing stocks on the market in the past year with outstanding gains of 215%, which is not surprising as the company has absolutely dominated the market for artificial intelligence (AI) chips and witnessed remarkable growth in its revenue and earnings.

However, there is one business where Nvidia is still lacking. The company's revenue from the automotive segment stood at $1.1 billion in fiscal 2024, an increase of 21% over the previous year. The segment turned in a tepid performance in the final quarter of the fiscal year, with a year-over-year decline of 4% in revenue to $281 million.

Nvidia has been trying to make a dent in the market for automotive chips for a very long time, once boasting customers such as . However, Nvidia has failed to make it big in this business so far. The automotive chip market was worth an estimated $51 billion last year, becoming the third-largest end market for chips.

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Source Fool.com