Nvidia's stock has enjoyed incredible gains over the last five years. It's only natural for competitors to pop up.

Nvidia (NASDAQ: NVDA) is the leading supplier of graphics processing units (GPUs) for data centers, which are used to develop advanced artificial intelligence (AI) models. The company consistently grew its quarterly revenue by triple-digit percentages over the past year, propelling its market capitalization to $3.2 trillion.

Nvidia (NVDA) is among the largest companies in the world, valued at a market cap of over $3.3 trillion. In the last 10 years, the chip designer has returned an astonishing 27,496% to shareholders. In the last two years alone,

When it comes to finding a top artificial intelligence (AI) stock to buy, investors may feel little motivation to look beyond Nvidia. Indeed, CEO Jensen Huang's decision to develop AI chips before Nvidia's competitors made it the dominant chip company in a lucrative and fast-growing niche.

So, Nvidia surely has more gas in the tank to power share gains. But despite all this, another AI stock is gaining on Nvidia this year when it comes to performance. If this continues, this stock could be the biggest winner of 2024. Let's find out more about this high-growth AI stock that may outperform market star Nvidia this year.