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The artificial intelligence (AI) frenzy has benefited almost all industries, but it has had the most positive impact on the technology sector. Nvidia (NVDA), the chip giant, has been the star of the show. The stock has surged 167.6% year-to-date, far outpacing the S&P 500 Index's ($SPX) gain of 23.6%. Nvidia, once best known for its graphics processing units (GPUs) used in gaming, has grown into one of the most dominant players in AI and high-performance computing.
Throughout 2024, the company has demonstrated outstanding financial performance, thanks to its leadership in accelerated computing and AI. We are now about to enter another year and possibly the next phase of AI. CEO Jensen Huang believes, "The age of AI is in full steam, propelling a global shift to NVIDIA computing."
