Chances are that just a few years ago you had never heard of a company called OpenAI. But that all changed on Nov. 30, 2022 — the day OpenAI released ChatGPT to the public and gave birth to the artificial intelligence (AI) megatrend.
Since ChatGPT’s debut, no other megacap technology stock has benefited more than semiconductor powerhouse Nvidia (NASDAQ: NVDA). With shares up by more than 750% in less than three years, Nvidia’s valuation has climbed by the trillions.
With so much excitement surrounding the company, though, could Nvidia keep skyrocketing? Billionaire hedge fund manager Philippe Laffont thinks so. Let’s dig into what Laffont’s investment firm, Coatue Management, has to say about Nvidia’s growth prospects over the next five years.