Nvidia (NASDAQ: NVDA) has been one of the stock market’s biggest winners over the past few years, thanks to its strength in one game-changing area: artificial intelligence (AI). The company is the world’s No. 1 AI chip designer, generating billions of dollars in revenue from sales of these items along with related products and services.
What keeps Nvidia ahead is the power and efficiency of its chips, known as graphics processing units (GPUs), in a field where customers — from tech powerhouses to savvy start-ups — aim to reach their AI goals as quickly as possible. The idea is AI will save companies time and money and help them innovate better and faster — so the technology could be a game changer for many.
And this is why Nvidia stock has soared, climbing 1,000% over the past three years. All of this is great, but you might wonder if now, after Nvidia’s latest blowout earnings report, is a good time to get in on the stock. Let’s see what history has to say…