Just unwrapped to amazed eyes at its developer conference, Nvidia (NASDAQ:NVDA) stock continues to surge, poised for unrivaled supremacy in the tech domain.

An incredible 90% surge this year and an eye-popping 245% hike over the past 12 months paint NVDA’s staggering trajectory. Second solely to Super Micro Computer (NASDAQ:SMCI) in S&P 500 index performance, Nvidia, powered by servers from SMCI, shows no signs of slowing down.

Innovative Blackwell Series

Stealing the spotlight at the conference is Nvidia’s Blackwell series, showcasing the maiden marvel, the GB200. Every two years, Nvidia honours tech evolution with a fresh GPU architecture, catapulting performance. The promise of Blackwell processors, the likes of GB200, spells a seismic shift for AI enterprises.

Companies, from Microsoft (NASDAQ:MSFT) to Meta Platforms (NASDAQ:META), grapple with Nvidia’s in-demand H100 microchips. Introducing Blackwell chips answers this call, empowering entities to train robust AI models with enhanced processing prowess.

Next-Gen Evolution

Nvidia CEO Jensen Huang unfurls the Blackwell series and debuts revenue-pumping software, Nvidia Inference Microservice (NIM), a notable addition to enterprise software subscriptions. NIM streamlines AI deployment, opening fresh revenue streams for Nvidia.

Huang envisions Nvidia’s transformation into a multifaceted platform provider a la Microsoft and Apple (NASDAQ:AAPL). Departing from mere chip design to fostering a richer ecosystem, Nvidia aims to offer companies a software development haven. At the developer conference, with 16,000 attendees, Huang reiterates Blackwell as a platform rather than a mere chip.

Sizzling Demand

Armed with cutting-edge chips and software, Nvidia seems poised to reign uncontested in the fervent realm of AI. Presently, 80% of the world’s AI models and applications run on Nvidia’s chips and semiconductors. Fears of market incursions from rivals like Advanced Micro Devices (NASDAQ:AMD) subside with the unveiling of Blackwell chips and NIM platform by Nvidia.

Post the Blackwell chips and NIM software announcement, AMD’s stocks plummeted by 7% over two days. Nvidia’s chief hurdle seems to align with soaring global demand for its AI-powered chips and semiconductors, having witnessed a 265% sales growth and a staggering 769% profit surge in the last quarter of 2023.

Invest in NVDA Stock

Currently trailing behind Microsoft and Apple, Nvidia secures the third spot in global market capitalization. Despite its awe-inspiring growth and stock appreciation, the future appears even brighter for NVDA. Eager to unveil new products, outpace competitors, and solidify its market dominance in AI chips, NVDA stock stands as a beacon of promise.

Joel Baglole, a seasoned business journalist with 20 years of experience, is the writer with long positions in NVDA, MSFT, and AAPL. The opinions shared here are his and comply with InvestorPlace.com Publishing Guidelines.