Graphics-chip maker Nvidia (NVDA) released a fire hose of news at its online GTC conference, detailing advancements in artificial intelligence, computer graphics, robotics and data centers. Nvidia stock reached a buy point Tuesday following positive reviews of the event. Nvidia also announced that its fiscal first-quarter revenue is tracking above the target it provided in its Feb. 24 earnings release. At the time, the company provided a revenue outlook for its first fiscal quarter, ending May 2, of $5.3 billion, plus or minus 2%. In a news release, Chief Financial Officer Colette Kress said Nvidia is seeing strength across its four market platforms.

As artificial intelligence (AI) technology continues to revolutionize how we live and work, semiconductor industry leader Advanced Micro Devices (AMD) is designing a potential new breakout. AMD stock is closing in on a new buy point as fellow chip industry and AI powerhouses Intel (INTC) and Nvidia (NVDA) also near new highs. With AMD stock, Nvidia stock and Intel stock showing strength, the semiconductor industry group now ranks No. 11 out of the 197 groups IBD tracks. Cirrus Logic (CRUS) and Inphi (IPHI) are also among the best chip stocks to watch. AMD and Nvidia both sport the highest-possible 99 Composite Rating, while Intel earns a still-impressive 93.