Shares of chipmaker Nvidia (NASDAQ: NVDA) have soared more than 2,400% in just the past five years. The stock has proven to be a growth machine due to advancements in artificial intelligence (AI) and the importance the company's chips play in next-gen technologies.

Nvidia (NASDAQ: NVDA) is a leading supplier of networking hardware and chips for gaming, computing, robotics, and especially data centers, which is where most artificial intelligence (AI) development takes place.

Chipmaker and AI darling Nvidia is back nipping at Apple's heels as the most valuable company in the world, with the stock hitting an all-time high Monday.

Nvidia Corp. shares slid on Tuesday after a wide-ranging product presentation by Chief Executive Officer Jensen Huang failed to propel the artificial intelligence chipmaker to new heights.

Nvidia CEO Jensen Huang unveiled new gaming graphics cards at the CES tech trade show in Las Vegas but didn’t offer details on its next-generation AI chips.