Shares of chipmaker Nvidia (NASDAQ: NVDA) have soared more than 2,400% in just the past five years. The stock has proven to be a growth machine due to advancements in artificial intelligence (AI) and the importance the company's chips play in next-gen technologies.

Chipmaker and AI darling Nvidia is back nipping at Apple's heels as the most valuable company in the world, with the stock hitting an all-time high Monday.

The tech giant announced several new products at the CES trade show in Las Vegas on Monday, including its first desktop computer. Shares of Nvidia Corp (Nasdaq: NVDA) are nearing all-time highs in premarket trading this morning after the company announced a slew of new AI products at the CES trade show in Las Vegas yesterday.