Despite the recent pullback, the stock has surged over 156% this year, briefly claiming the title of the world's most valuable company. This remarkable performance, driven by the surge in artificial intelligence, has attracted significant investment into tech-focused funds. However, recent market volatility has tempered the stock's upward trajectory, raising questions about its sustainability.
Skeptics also question whether the AI boom can truly live up to its lofty expectations and deliver sustainable returns on investment. If the AI revolution fails to materialize as anticipated, demand for Nvidia's chips could cool significantly, leading to a sharp correction in the stock's valuation, which currently stands at 23 times projected sales. Such a scenario would be reminiscent of the dot-com bubble of the late 1990s.
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