This AI stock has delivered impressive gains in 2024, and it could pop higher following its upcoming quarterly report.

Nvidia (NASDAQ: NVDA) is the leading supplier of graphics processing units (GPUs) for data centers, which are used to develop advanced artificial intelligence (AI) models. The company consistently grew its quarterly revenue by triple-digit percentages over the past year, propelling its market capitalization to $3.2 trillion.

Nvidia (NVDA) is among the largest companies in the world, valued at a market cap of over $3.3 trillion. In the last 10 years, the chip designer has returned an astonishing 27,496% to shareholders. In the last two years alone,

Nvidia's stock has enjoyed incredible gains over the last five years. It's only natural for competitors to pop up.