Nvidia Dominates the AI Arms Race
Nvidia is the top artificial intelligence (AI) stock pick for the next three years, according to The Globe and Mail. This is due in part to its cheap valuation and rapid growth rate.
The company's GPUs are best in the business, and with a new architecture launching, they will unlock features and capabilities previously unthinkable. Its early lead in the AI arms race positions Nvidia well to thrive in the coming years.
Nvidia expects huge growth in the future, with a 70% pace of revenue growth projected for next year. This is an incredible projection, especially considering the company's size. The market really doesn't know what to do with the stock, as all of the numbers indicate that Nvidia will be a far larger company than any other U.S. business.