Despite their more modest meeting formats, both of the previous iterations led to a nice bump-up in Nvidia's stock price. In the week that followed 2022's event, shares were up as much as 10%. In 2023, they were up as much as 6.5%. So will this year's conference also lead to a jump in stock price? Maybe.

Nvidia stock was rising early on Monday. Healthy demand for artificial-intelligence chips looked to be helping it shrug off wider market moves and further reports of government pressure in China for local companies not to use its hardware.

A Melius Research analyst says “you still get some eye rolls when you reiterate this buy,” but the setup for Nvidia shares “is still pretty darn good.”

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.