It’s Not Too Late to Buy Nvidia Stock. Here’s Why


  • Nvidia (NVDA) is making waves with its artificial intelligence (AI) supercomputers.
  • Nvidia is launching software to help address the problem of unreliable/unsafe generative AI programs.
  • Investors should consider starting a position in NVDA stock or adding to an existing share position.
NVDA stock - It’s Not Too Late to Buy Nvidia Stock. Here’s Why

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There’s no denying that Nvidia (NASDAQ:NVDA) stock has performed well in 2023 so far. Doesn’t this mean it’s too late to take a share position, or does Nvidia still have gas in the tank? As long as artificial intelligence continues to create opportunities to generate revenue, count on Nvidia to deliver outstanding value for both the customers and the investors.

For years, Nvidia was the king of graphics processing unit makers, especially for video game consoles. However, while Nvidia is still a dominant force in the GPU industry, the company is also boldly venturing into the AI hardware space.

Not only that, but Nvidia is also delving into AI-related software. So, there’s no need to worry that the window of opportunity is closed, as Nvidia’s is still a relentless innovator in multiple tech niche sectors.

NVDA Nvidia $285.96

AI Supercomputers and NVDA Stock

By now, Nvidia stock traders have surely read the headlines about OpenAI’s ChatGPT generative AI platform. Chatbots like ChatGPT require powerful hardware, and Nvidia’s A100 chip provides the computational power required by these types of platforms.

Nvidia is moving beyond the A100 chip, however, and delving into the ultimate machine learning compatible hardware: DGX supercomputers.

These supercomputers are currently “running 24/7 at businesses across the world to refine data and process AI,” and Nvidia CEO Jensen Huang called DGX supercomputers “modern AI factories.”

According to the company, customers as far away as Japan, Ecuador and Sweden are using Nvidia’s DGX H100 supercomputer systems “like AI factories to manufacture intelligence.”

These systems have already been applied in diverse fields such as legal research, healthcare, digital advertising, higher education and more.

Nvidia Solves a Serious Problem With Generative AI

While generative AI chatbots are quite popular, some critics have identified issues pertaining to safety and reliability. There have been instances of these chatbots going “off the rails” by providing inaccurate or inappropriate responses to queries.

To help address this issue, Nvidia is reportedly launching a tool known as NeMo Guardrails. This, according to Jonathan Cohen, Nvidia’s vice president of applied research, is an “open source developer tool kit to guide LLM-powered chatbots to be accurate, appropriate, on topic, and secure.”

One purpose of NeMo Guardrails is to help prevent chatbots from spreading inaccurate statements. The program should stop generative AI programs from disclosing people’s confidential personal information.

Ultimately, NeMo Guardrails could foster trust in generative AI among wary businesses. As a result, this timely product should provide a runway to bring more customers to Nvidia.

So, Is It Too Late to Buy Nvidia Stock?

Nvidia is creating a win-win scenario by continuing to develop gaming GPUs but also advancing AI hardware and software. Hence, it’s easy to envision Nvidia building its already substantial client base in 2023 and beyond.

It just goes to show that great businesses never stop innovating and evolving. So, don’t be too concerned that NVDA stock recently had a strong rally. There’s still room to run in the coming quarters, and it’s definitely not too late to consider investing in Nvidia.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

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