Published on 29 Apr 2024 on Motley Fool via Yahoo Finance
Missed Out on Nvidia's Incredible Rally? 1 Magnificent Growth ETF to Buy Now.
Investors have been excited about many different growth areas over the years, but few topics have sparked as much enthusiasm as artificial intelligence (AI). Companies with even modest exposure to that area have soared in the past year, sometimes without even showing how they might capitalize on the AI boom.
Nvidia (NASDAQ: NVDA) is an exception to that rule. The chipmaker is directly benefiting from intense demand for its graphics processing units, which form the foundation for data centers that are being built by many of the biggest tech giants on the planet. Nvidia's sales were up a blazing 265% last quarter to $22 billion .