Nvidia Corporation (NASDAQ:$NVDA) has had a big year. With a market cap just over $108 billion and stock prices closing today at $180.77, the computer hardware giant has no doubt been a force to be reckoned with in the technology market. The stock even grew 70% since January, an incredible rally. However, with such a massive upswing, you might start to think that the graphics-chip company has no more room to run.

And you’d be dead wrong.

Shares are being driven right now by a combination of different factors. Industries such as next-generation video games and the increasingly popular cryptocurrency mining have already put a demand on the company. However, it’s the continued development of Artificial Intelligence that drives the market forward. The need for high-performance Graphical Processing Units for training and running models will continue to grow as artificial intelligence is deployed and produced in more and more industries.

The TensorFlow deep learning library is a good example of this. The technology requires Nvidia GPUs, which has driven up demand for Nvidia hardware from cloud service providers looking to capitalize on the new technology.

With everyone from Vladimir Putin to Elon Musk speculating on the future importance of Artificial Intelligence, the sky’s the limit. The technology is still in its infancy, meaning that as development continues, so will the demand for better and better hardware to operate these platforms.

From a technical standpoint, buyers have been controlling the stock. Despite hitting a resistance of $190 in mid-September, the nearer-term support may push the stock even further. Analysts like TheStreet’s (NASDAQ:$TST) Jonas Elmerraji have even predicted a breakthrough passed $190 to $200, a number that is bound to have a lasting effect on investors.

Nvidia is on a bullish trend, and the RSI confirms it. However, if you are looking to buy, Elmerraji advises you wait until it breaks $190 to finally ‘pull the trigger’.

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