Nvidia stock has been one of the biggest winners of the artificial intelligence (AI) revolution in the past couple of years, clocking remarkable gains of nearly 800% over the past two years on account of the red-hot demand for its data center graphics cards, but the past three months have been difficult for the chipmaker.

Nvidia (NASDAQ: NVDA) and Microsoft (NASDAQ: MSFT) are pioneers in artificial intelligence (AI) as both companies have played central roles in bringing this technology mainstream. While Microsoft-backed OpenAI kicked off the AI craze when it launched the highly popular ChatGPT in November 2022,

Consumer Electronics Show (CES) 2025 revolved around AI. If not, it’s all that exhibitors could show. Talking about the highlight of the show, it was undoubtedly the keynote from Jensen Huang.

So, how can Nvidia's stock soar 67% in 2025? Simple. It does what it's expected to and gives a solid outlook for next year. Right now, Nvidia trades for 52 times trailing earnings, which is near the cheapest level it has traded at over the past two years.

It seems clear that 2024 was the year of artificial intelligence (AI) -- or was it? If you had invested in an AI-based exchange-traded fund (ETF) at the beginning of last year, the chance that you would have beaten the market wasn't great,