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.

One key point about Nvidia that sets it apart from other AI investments is that it's making piles of money from all of the AI investments from big tech companies. Hans Mosesmann from Rosenblatt Securities has a Street-high price target of $220 per share on Nvidia.

Myron Xie says TSM stock is the only game in town for AI chips. Nvidia and hyperscalers building their own chips rely heavily on TSMC.

You'll want to choose AI stocks carefully and balance them with other categories. Many of the stocks that skyrocketed last year still have massive growth potential. It seems clear that 2024 was the year of artificial intelligence (AI) -- or was it?