Nvidia (NASDAQ: NVDA) is a high growth technology stock that will continue to dominate in its field. Although Nvidia is well known as top supplier for graphics processing units, GPUs, to gaming industry. Nvidia dominates and will dominate in the following areas.
- Nvidia continues to dominate the high-end GPUs, which make video games more realistic, for the video games market. It is also a leader in cloud gaming.
- Nvidia’s chips are utilized for autonomous vehicles (self-driving cars).
- The rise of cryptocurrencies further stokes demand for Nvidia chips.
- The acquisition of Mellanox in April 2020 and the planned purchase of chip designer ARM will allowed Nvidia to expand deeper into data centers and supercomputers.
- Nvidia’s specialized semiconductors power some of the most exciting areas in AI (Artificial Intelligence). Its chips power “Leonardo,” the world’s fastest AI supercomputer. Nvidia plan to build an AI lab in Cambridge, England.
In conclusion, investors should add Nvidia stock to their high growth portfolio for the long term.