A Melius Research analyst says “you still get some eye rolls when you reiterate this buy,” but the setup for Nvidia shares “is still pretty darn good.”

Nvidia has emerged as one of the hottest artificial intelligence stocks on the market. The 31-year-old company’s meteoric rise is largely due to the recent AI boom, which revealed the unexpected potential of its core product,

Nvidia controls roughly 90% of the AI silicon market, dominating the competition. The company will soon host its three-day AI Summit in Washington D.C. Past years have seen a bump in Nvidia's stock price following the event.