Nvidia (NASDAQ: NVDA) may not be the best-performing stock in the market or the S&P 500 these days — that’d be Palantir — but there’s a strong case that it has been the most important. The spotlight has been on Nvidia because of the pivotal role it plays in the artificial intelligence (AI) pipeline.
This investor interest has catapulted Nvidia stock 290% higher in the past two years. Yet, despite its impressive run, there is still a long growth runway ahead of it. And over the next five years, there’s one major reason I’m confident Nvidia stock will continue to soar: the continued rise in AI-related spending from the world’s largest companies.
Image source: Getty Images.