A key force fueling Nvidia Corporation's (NVDA) recent growth that has been discussed by few on Wall Street is the rapidly growing role that artificial intelligence (AI) is playing in the company's revenue growth. The company recently announced that AI-optimized computer chips accounted for roughly 20% of revenue during the latest quarter, compared to 13% one year before, according to Quartz. (For more, see also: 3 More Stocks Poised to Surge on Artificial Intelligence Wave.

Major Revenue Source

These AI-optimized chips, which are sold for use in data centers, have provided steady revenue for Nvidia, Quartz reported. Investors have been eagerly monitoring this revenue source to get a better sense of whether it will continue to grow. Some analysts have predicted that sales of chips like these will skyrocket, rising from roughly $500 million last year to as much as $30 billion within the next five years, according to Fortune. 

Strong Stock Performance

If such predictions materialize, it could help push shares of Nvidia, which have more than doubled over the last year, even higher. The company's stock, which stood at $228.03 at the close of trading on February 12, climbed roughly 110% over the last year, according to Google Finance. Since January 26, when the Standard & Poor's 500 index (S&P 500) peaked, Nvidia shares have declined 6.3%. The S&P 500, however, has dropped 7.55%. (For more, see also:  Charles Schwab: Market Correction Should Be Tame Thanks to Earnings Growth.

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