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Nvidia Corporation (NVDA) continues to rule the semiconductor industry. The artificial intelligence (AI) era has just begun, increasing demand for Nvidia's high-quality chips. As AI advances, demand will continue to rise in the coming years. Given that Nvidia dominates this space, the company should continue to generate strong profits.
The stock gained an exceptional 238% in 2023, outperforming the tech-heavy Nasdaq Composite's ($NASX) gain of 44.5%.