While the adoption of artificial intelligence (AI) has fueled stock market growth in recent years, there appear to be cracks in investor confidence. Despite evidence to the contrary, concerns of a bubble and fear that growth will slow have weighed on AI stocks.

AI chipmaker Nvidia ( NVDA 3.30% ) is one example. The company repurposed its graphics processing units (GPUs) to accelerate AI training and inference in data centers, quickly establishing itself as the gold standard. While the company's relative growth rate has slowed, absolute demand is still enviable.

Just last month, one Wall Street analyst doubled their expectations for Nvidia stock, predicting it will become a $20 trillion company by 2030. Let's look at Nvidia's recent results, why the analyst is one of the

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