There are many ways to buy into the artificial intelligence (AI) frenzy. Many investors look to AI hardware designer Nvidia, making the former video gaming accelerator maven one of the most valuable companies in the world.

Nvidia (NASDAQ: NVDA) is reporting tremendous demand for its graphics processing units (GPUs). It supplies these chips for gaming, data centers, automotive, and artificial intelligence (AI) researchers.

US tech giant Nvidia is spreading its investments into smaller-cap AI companies, which will help promote the adoption of its products. This comes as demand for its graphics processing units (GPUs) is on an increase and projected to remain firm supported by continued adoption of the AI technology across sectors.

Fundstrat's Tom Lee called Nvidia's earnings release a "clearing event" for the stock market and that investors' "animal spirits" are rising.

Stocks rose in morning trading on Wall Street Friday, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.1% and is solidly on track for a weekly gain that will erase most of last week's loss.