Shares of the artificial intelligence (AI) chip leader have been crushed this year, but recent developments suggest the best is yet to come.

Because Nvidia is still growing its revenue rapidly, using trailing earning metrics can give a false impression of where the company is headed. However, they're also useful in this case because its future had a wrench thrown into it thanks to DeepSeek's breakthrough.

Most AI compute has been driven by Nvidia chips, and we obviously have a deep partnership with Nvidia and will for as long as we can see into the future,” Jassy said on a cal

Nvidia was one of several technology stocks hit by the emergence of Chinese AI competitor DeepSeek. An analyst sees the pullback as a buying opportunity. The NVDA Analyst: Morgan Stanley analyst Joseph Moore maintains an Overweight rating on Nvidia with a $152 price target.

Alphabet is increasing its capital expenditures on AI investments.