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.

Consumer Electronics Show (CES) 2025 revolved around AI. If not, it’s all that exhibitors could show. Talking about the highlight of the show, it was undoubtedly the keynote from Jensen Huang.

Two hot stocks in this sector are Palantir Technologies (NASDAQ: PLTR) and SoundHound AI (NASDAQ: SOUN). Palantir's shares had surged by more than 300% over the prior 12 months, while SoundHound had skyrocketed by 600%.

So, how can Nvidia's stock soar 67% in 2025? Simple. It does what it's expected to and gives a solid outlook for next year. Right now, Nvidia trades for 52 times trailing earnings, which is near the cheapest level it has traded at over the past two years.