Tech Gaint Nvidia (NVDA, Financial) shares saw an upsurge of 4% on Friday, the final trading day of the week, making a comeback after facing correction in the new year. Perhaps the company has soared close to 190% in 2024, as strong demand drives its AI powerhouse tag, so to speak, bidding for its cutting-edge GPUs and AI. Nvidia’s market value hovers at a new high of $3.2 trillion and it’s going further when it comes to lending clout to artificial intelligence.
Nvidia’s stock has ascended more than 837% over the past two years and, as a result, has been a major component in the S&P 500’s stunning performance. The company is all about growth as its role in the industry allows it to be as they help enabler AI technologies from machine learning applications to generative AI tools.
Nvidia remains one of the stock picks in the tech world among analysts because of its strong market position and the ever growing adoption of AI within different industries. This is why the company’s GPUs are key elements of training and deployment of AI models, which will continue to demand its products for enterprise and consumer markets.
Nvidia’s stellar rise has fueled optimism, but the broader tech market is still a question mark on valuation levels. But Nvidia’s revenues are surging and it has established itself as a center point for investments in the emerging AI market.
Nvidia is ready to capitalize on emerging trends in AI and cloud computing as the company heads into 2025, poised for not just growth and innovation for investors and the technology landscape, but possible exponential growth for both in the years to come.
This article first appeared on GuruFocus.