A decade ago, Nvidia was a major graphics card maker, vying with competitors like AMD and Intel for dominance. Now it's an AI giant with 70% to 95% of the market share for AI chips, and the brains of OpenAI's ChatGPT. It's also the best-performing stock with the highest return in the past 25 years.

Why did Nvidia invest in AI chips over 10 years ago, ahead of the competition? CEO Jensen Huang and board member Mark Stevens, Nvidia's two largest individual shareholders, talked to Sequoia Capital partner Roelof Botha to explain what Botha called "one of the most remarkable business pivots in history."

Nvidia's original product was 3D graphics cards for PC games, but company leaders noticed by the mid-2000s that the PC market was hitting a growth limit.

Related: Nvidia CEO Jensen Huang........

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