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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.

Nvidia shares surged Wednesday after CEO Jensen Huang said the chipmaker is seeing "incredible" demand. “Everything is sold out,” Huang said, as customers clamor for Nvidia’s products to support artificial intelligence.

One company is behind Nvidia's success, and CEO Jensen Huang said it's the best in the industry. Despite the strong growth prospects, investors can still buy the stock for a great price right now. The chipmaker has shown incredible pricing power amid the strong demand.