Monster gains notwithstanding, Wall Street is still bullish on the semiconductor company. Of the 65 analysts who follow Nvidia, 92% give the stock a buy rating and the remaining 8% give the stock a hold rating. Moreover, Nvidia's median price target of $150 per share implies 14% upside from its current share price of $132.

The artificial intelligence trend has supercharged the growth of many tech stocks over the past year, including semiconductor giants Nvidia (NASDAQ: NVDA) and Arm Holdings (NASDAQ: ARM). So far in 2024, Nvidia shares climbed 144%, and Arm stock rose 91%.

Two of the most popular artificial intelligence (AI) investments right now are Nvidia (NASDAQ: NVDA) and Palantir (NYSE: PLTR). These companies represent opposite ends of the AI investment spectrum, with Nvidia on the hardware side and Palantir on the software side.