Where Will Nvidia's Soaring Stock Be in 10 Years?
Nvidia's (NASDAQ: NVDA) growth thesis hinges on generative artificial intelligence (AI) -- a tech megatrend sending demand for its advanced hardware through the roof. And according to analyst projections, this booming market has plenty of room left to run. That said, the company could find even more synergistic growth drivers over the long term. Let's dig deeper into what the next 10 years could hold.
When Nvidia was founded in 1993, it would have been hard to imagine that the hardware it was pioneering, the graphics processing unit (GPU), would have such a transformative effect on the technology landscape.
Originally designed to render video-game visuals, GPUs work through parallel processing, which involves computing multiple tasks simultaneously. This functionality made them extremely useful for new uses like cryptocurrency mining and training the large language models (LLM) behind generative AI applications.
Source Fool.com
