Nvidia's ambitions go beyond chips and towards driving 'AI + Healthcare'.

Nvidia has announced agreements with Johnson & Johnson to utilize generative artificial intelligence (AI) in surgeries, and with GE Healthcare to improve medical imaging. At GTC 2024, Nvidia's developments in healthcare (including the announcement of approximately 24 new AI healthcare tools) demonstrated the importance of healthcare for Nvidia's future revenue opportunities outside of the technology sector.

Moody's Senior Vice President of Ratings, Raj Joshi, stated, "NVIDIA's current popularity is mainly due to providing infrastructure and technology for things that were previously impossible. Health care, whether in biotechnology, chemicals, or drug development, is a very powerful field."

As NVIDIA's stock price has risen nearly 100% since the beginning of this year, the biotechnology sector is an example of untapped potential that investors continue to bet on. Artificial intelligence can speed up the drug development process and even discover applications for pharmaceuticals that may not be effective for the diseases originally targeted.