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As a result, Broadcom and Nvidia are positioned to benefit for years as the AI industry expands from 2023's global market size of $136 billion to an estimated $827 billion by 2030. This is one reason owning shares in both is a great way to invest in the secular trend of AI.

Generative AI is taking the world by storm. This groundbreaking technology is capable of creating new content, such as text, images, and even music, based on the patterns it learns from existing data.

FactSet tracks 64 analyst ratings on the chip designer's stock. And 51 of them rate Nvidia a buy in that system -- the highest available grade, equivalent to a strong buy on most rating platforms. Nine more call Nvidia an overweight opportunity, and the last four have settled for a hold. None of the 64 financial firms are going below that level.

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