The AI market experienced a significant surge last year and continues to show strong growth. OpenAI’s ChatGPT launch reignited interest in AI, prompting numerous tech companies to restructure their operations to focus on this emerging industry.
The rising demand for AI services has led to a corresponding increase in GPU sales, as these chips are essential for training AI models. Nvidia (NASDAQ: NVDA), a leading chipmaker, has reaped substantial profits from the surge in GPU demand, establishing a dominant position in the AI chip market in 2023.
Over the past year, Nvidia’s earnings have soared, with its stock delivering triple-digit growth since February. With the AI market projected to grow at a compound annual rate of 37% until at least 2030, the demand for GPUs is expected to remain strong. As a result, investing in Nvidia is considered one of the best ways to capitalize on this high-growth sector.
Therefore, Nvidia stands out as a top AI stock…
2024-03-02 06:05:00
Link from finance.yahoo.com
