Is NVIDIA (NVDA) One of the Best NASDAQ Stocks to Buy and Hold for 3 Years?

NVIDIA Corporation (NASDAQ:NVDA) is one of the best NASDAQ stocks to buy and hold for 3 years. Reuters reported on June 1 that NVIDIA Corporation (NASDAQ:NVDA) unveiled a new chip that incorporates AI capabilities directly into desktop computers and laptops. CEO Jensen Huang stated that the RTX Spark PC chip is part of the company’s endeavors with Microsoft to “reinvent the PC” for the AI era, following three years of collaboration between the companies. Reuters further reported that the chip is developed with Taiwan’s MediaTek, and is set to debut in laptops and compact desktops this fall from Dell, HP, Lenovo, ASUS, Microsoft Surface, and MSI, with models from Acer and GIGABYTE to follow.

Analyst Explains How NVIDIA (NVDA) Can Reach $8 Trillion Market Cap

In a separate development, Reuters reported on May 26 that, according to a report by Bloomberg News citing people familiar with the matter, Taiwan prosecutors suspect that three individuals managed to smuggle at least one shipment of NVIDIA Corporation (NASDAQ:NVDA) chips to China before first exporting them to Japan. However, the report could not be immediately verified by Reuters.

NVIDIA Corporation (NASDAQ:NVDA) designs and manufactures computer graphics processors, chipsets, and other multimedia software. It operates in the Compute & Networking and Graphics Processing Unit (GPU) segments.

While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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