From Nasdaq:

Nvidia stock has seen a record rise of 200% over the past year due to its significant role in artificial intelligence (AI). The company holds more than 80% of the AI chip market and is expected to maintain its lead. Revenue has skyrocketed, and with future growth forecasts for the AI market, there is room for more momentum.

Nvidia’s GPUs were first successful in gaming, then revolutionized AI. The company holds a significant share in the AI chip market, however, others like AMD are challenging their position. Nvidia is increasing its R&D spending to match competition and stay ahead technologically. Nvidia’s record revenue, earnings, and free cash flow indicates the company’s growth potential in the coming years.

While Nvidia’s growth expectations in the AI market should keep the momentum going, it’s not too late to invest in Nvidia stock. The company is trading at a forward earnings multiple of 33x, and its revenue is growing in the triple digits. Even though Nvidia has seen significant growth, there’s reason to believe that the company’s bright future, especially with the growth forecasts for the AI market, will keep the momentum going.

Nvidia’s stock has seen tremendous growth in a short period, but looking at its valuation and projections for the future in the AI market, it could be a good time to invest in the company. Based on growth prospects for the AI market, it shows great promise.



Read more: Is It Too Late to Buy Nvidia Stock Now?