Nvidia CEO Jensen Huang kicked off this year’s CES consumer electronics trade show with a slew of AI announcements, in a blockbuster address that had analysts calling the chipmaker's stock a "top pick" on its AI leadership.

In a packed Las Vegas arena, Nvidia founder Jensen Huang stood on stage and marveled over the crisp real-time computer graphics displayed on the screen behind him. He watched as a dark-haired woman walked through ornate gilded double doors and took in the rays of light that poured in through stained glass windows.

Nvidia sells graphics processing units (GPUs) that provide computing power for various uses. More than two decades ago, the main function was to support PC gaming. But what has put the business on the map in recent years has been its GPUs that enable training AI models in massive data centers, now representing the bulk of the chipmaker's sales.

Chipmaker and AI darling Nvidia is back nipping at Apple's heels as the most valuable company in the world, with the stock hitting an all-time high Monday.

NVIDIA (NASDAQ: NVDA) is still the most important stock after two-plus years of dominating the stock market. Its GPU technology unlocked the door to AI, and now NVIDIA is capitalizing on it using a full-stack method.