There is no doubt that Nvidia (NASDAQ: NVDA) is the dominant player in the market for artificial intelligence (AI) chips, as its graphics processing units (GPUs) have played a central role in training popular AI models such as ChatGPT and Llama.

The stock isn't cheap, but it isn't far from where its peers are priced. Nvidia has risen to the top of AI investments because it has become the building block on which AI models are built and trained.

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Nvidia (NASDAQ: NVDA) has roared to the top of the charts when it comes to stock performance this year. The company launched the parallel computing platform CUDA, and the GPU expanded its reach, soon becoming the star of the AI revolution.

Nvidia stock has stolen the spotlight this year, climbing almost 190% as the company reported soaring earnings. Artificial intelligence customers are rushing to Nvidia for their AI projects -- and they’re creating huge demand at another promising AI player too.