Still, Wall Street expects Broadcom's growth to pick up in FY 2025, with 37 analysts projecting an average of 17.5% revenue growth. They clearly see these AI tailwinds having a greater effect next year, but does that make the stock a buy now?

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.

These companies are witnessing a marked acceleration in their businesses thanks to the growing adoption of AI.

Nvidia and Broadcom are both great long-term investments. But if you want to fully profit from the secular expansion of the AI market, Nvidia is the more obvious play. It will remain the top provider of AI accelerator chips for the foreseeable future, it has incredible pricing power, and its stock doesn't seem overvalued yet.