Prediction: This will be Nvidia’s biggest move yet.

Nvidia (NVDA 1.63%) is known for inventing, staying ahead of the curve and surprising the market with the latest innovations. This helped the company dominate the artificial intelligence (AI) chip market, capturing 80% of the shares and becoming an overall AI powerhouse.

Nvidia isn’t just about AI chips anymore. The company sells a full suite of products and services, from networking to enterprise software, to serve customers with AI projects.

All of this has helped Nvidia stock rise by four digits over the past five years, and this year alone, it’s on track for a gain of more than 160%. Nvidia stock may not rise in a straight line forever, and has dipped at times this year — but the company still has plenty of fuel in the tank to deliver a spectacular stock performance over the long term.

The stock could get a boost from Nvidia’s recent news. My prediction is that this will be the company’s biggest move yet.

Image source: Getty Images.

The ideal chip for AI tasks

Let’s review Nvidia’s path so far, just to get an idea of ​​how powerful this company has become in the world of AI. Nvidia started out primarily serving the video game market with its graphics processing units (GPUs), but has progressively expanded the reach of these chips into other areas, including AI. The GPU’s ability to handle multiple tasks simultaneously makes it the ideal chip for key AI tasks such as model training and inference.

Nvidia chips are the fastest around. Even though they are also the most expensive, customers have flocked to the company. Part of the reason may be that customers, eager to win in the AI ​​market, see working with the most powerful products early on as the best way to achieve that goal.

I can also agree with Nvidia CEO Jensen Huang on the following point: Nvidia chips, because of their high performance, will save customers time and make workflows more efficient, resulting in lower total cost of ownership over time smaller. In the long run, Nvidia chips may represent the best deal.

Here’s an anecdote to illustrate how eager big companies are to get on Nvidia. Recent, Oracle co-founder Larry Ellison said he and adze boss Elon Musk “begged” Nvidia’s Huang to sell them more tokens. Nvidia has struggled to meet the needs of these companies as demand for its chips has outstripped supply.

Now let’s consider Nvidia’s recent move, one that I predict could be the biggest yet. The tech giant has expanded its partnership with Accenture (ACN -0.70%) — and as part of it, the latter formed the Accenture Nvidia Business Group. This is a 30,000-person team that will help customers jump-start their AI projects and expand enterprise AI adoption.

Using the entire Nvidia AI stack

As part of this, the Accenture AI Refinery — using Nvidia’s full AI stack — will help customers reimagine their processes and even develop areas such as sovereign AI. The refinery will be found on all public and private clouds, making it easily accessible.

This can be especially big for Nvidia, as it extends the reach of this AI powerhouse even further. And this in the context of increasing demand for AI from Accenture clients.

The consulting and professional services company said in its recently ended fiscal year that AI generative demand generated $3 billion in bookings, with $1 billion of that coming in the most recent quarter. It’s also important to note that Accenture is a huge player with clients in over 120 countries — so it has significant reach.

This gives Nvidia yet another opportunity to increase its AI market share and further solidify its reputation as a “benchmark” company for AI products and services. All of this should add up to another big wave of revenue growth.

That’s why I think this expanded partnership with Accenture will be Nvidia’s biggest move yet. It also makes this top AI stock a great player to buy now and hold for the long term to potentially benefit from future gains.