Nvidia Rides AI Chip Boom to Soaring Growth Like a Modern Tech Gold Rush
• Nvidia's revenue and profits are soaring due to high demand for its GPUs used in AI and data centers • Generative AI is fueling growth comparable to the California Gold Rush; Nvidia sells the picks and shovels • Competition from AMD and cloud providers like Amazon exists but likely won't slow Nvidia's growth much • Nvidia has high margins and valuation looks reasonable despite huge stock price gains • AI chip market expected to expand from $45B to $400B by 2027, leaving room for Nvidia and rivals