Nvidia ( NVDA 0.21%) is one of the most widely followed stocks today, and it's easy to see why. Its lead in the artificial intelligence (AI) accelerator market supercharged its revenue growth and made it the largest semiconductor stock, as measured by market cap, next to Apple.

Investors were not impressed by Nvidia's quarterly performance and outlook even though it handily beat Wall Street's expectations thanks to the booming demand for its artificial intelligence (AI) chips.

Nvidia (NVDA) has solidified its position as a leader in the technology industry, especially within the semiconductor space. No other semiconductor company has experienced growth as explosive as Nvidia’s.

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.