Can NVDA Still Be a $300 Stock If Nvidia Loses Its Monopoly in AI GPUs?

Nvidia (NVDA) has been the largest beneficiary of the artificial intelligence (AI) revolution, with its graphics processing units (GPUs) becoming the bedrock of the technology. The company has had a home run, controlling over 90% of the market for GPUs used in AI workloads.

It’s not that competitors haven’t tried challenging Nvidia’s dominance. From rival chip designers, Big Tech peers that also happen to be its customers, cash-rich startups, and Chinese tech companies, a lot of players have been trying to gain a foothold in the AI GPU market. While so far, none of these companies has managed a breakthrough that can rival Nvidia’s lead, things are moving quite fast. In this article, we’ll look at NVDA’s forecast amid signs that the company might lose its monopoly on the AI GPU market.