Nvidia (NASDAQ: NVDA) is undoubtedly one of the hottest stocks in the market and has been for a few years now. Its position as a provider of key hardware for the artificial intelligence (AI) space has fueled quarter after quarter of triple-digit growth for its sales and earnings.

Investors have found another major way to play the artificial-intelligence trend besides semiconductor stocks, and that’s led to a changing of the guard atop this year’s list of the best S&P 500 performers.

Consider this, just about nine months ago, at the end of December 2023, Nvidia stock was trading at around $50 levels.

Nvidia shares were up 2.2% at $126.21 premarket trading. It rose more than 2% on Wednesday after upbeat projections about the need for AI hardware, lifting its market value past t

Micron’s positive AI commentary shouldn’t come as a huge surprise, but it could nonetheless help support AI plays like Nvidia.