Should You Buy Nvidia Before Oct. 7?

Investors have flocked to artificial intelligence (AI) stocks in recent times thanks to the technology's promise of revolutionizing everything from our daily lives to how businesses are run. And we're just at the beginning of this high-growth story. Today's $200 billion market is forecast to reach beyond $1 trillion by the end of the decade.

All of this has translated into double-digit gains this year for many companies that support the development of AI -- or are developing AI themselves. At the head of the pack is Nvidia (NASDAQ: NVDA). The global AI chip leader has seen its stock price soar about 135% so far this year. Nvidia's graphics processing units (GPUs) are the fastest on the market, and customers have recognized this, helping push Nvidia's revenue to triple-digit gains quarter after quarter.

It's no surprise that Nvidia shareholders and potential investors closely watch this company's every move for clues about what's ahead -- and use this to make investing decisions. And now, they may be looking to Nvidia's AI Summit beginning Oct. 7 as a potential catalyst. Should you buy Nvidia stock before the event? Let's find out.

The Nvidia AI Summit

First, a few details about the summit. It's happening on site in Washington D.C. as well as virtually from Oct. 7 through Oct. 9. The event is looking like a popular one because general conference passes are sold out at this point -- but limited quantities of exhibit-only passes still are available as of this writing.

At the summit, I wouldn't expect updates on Nvidia's latest products or announcements of new products or services. Instead, this event is designed to show exactly how the company's technology -- and AI in general -- is revolutionizing many industries. A variety of speakers, from Nvidia's own vice president of enterprise platforms Bob Pette to The Weather Company's chief executive officer Sheri Bachstein will talk about the latest AI developments.

While this event probably won't offer us news about Nvidia's upcoming release of its new Blackwell architecture, for example, it will give investors some important information. And this is how AI actually is being used right now. Topics to be covered include cybersecurity, robotics, healthcare, and many more. Nvidia's event also will feature live demos such as Earth-2, the company's climate forecasting tool.

All of this is a big plus for Nvidia because it shows AI isn't just a technology of hopes and dreams, but it actually is in use and driving major results across industries today. This should lead to ongoing revenue for Nvidia, as it sells the tools and services necessary to keep this progress going, and that's positive news for Nvidia shareholders and potential shareholders.