This AI Giant Has Climbed 900% Over the Past Five Years. Now Wall Street Expects the Stock to Jump Another 40%.
This company is about to tackle another valuable AI market.
Overview
Investors are always looking for the next game-changing technology, and in recent years, one emerged: artificial intelligence (AI). This exciting technology is already bearing fruit for many, from developers of infrastructure to companies and organizations that have actually started applying AI to their problems.
These players have reported soaring revenue and have seen their stock performance take off, too. One particular company has been leading the way, as it develops a key element needed for AI to function. I'm talking about Nvidia (NASDAQ: NVDA), designer of the world's No. 1 AI chip. Nvidia's graphics processing units (GPUs) are used for crucial AI tasks, such as the training of AI models, and customers flock to them because they are the fastest around.
Details
Nvidia's expertise has appealed to investors, and that's helped the stock soar 900% over the past five years. At this point, you might think Nvidia has passed its growth peak, and that share performance moving forward may stagnate. Wall Street begs to differ, predicting that the stock is on track to advance another 40%. Let's check out what may happen next.
Source
Originally published at www.fool.com.