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If there has been any stock that has defined the artificial intelligence (AI) rally over the better part of two years now, it has been Nvidia (NVDA). The Jensen Huang-led designer of chips - an essential piece of the architecture needed for demanding AI computing tasks - has been at the forefront of the tech revolution, with the impact showing on both its top- and bottom-line results over the past year.
Despite a pullback of more than 5% in Friday's session, NVDA stock is up a staggering 76.5% in 2024. The shares have easily more than tripled over the past 52 weeks, pushing Nvidia's market cap past $2 trillion.