Nvidia, in contrast, has nearly everything AI investors want. It's profitable, it has plenty of room to grow as AI investments expand, and its shares are relatively well priced with a forward price-to-earnings ratio of 34, compared to the tech-heavy Nasdaq-100 's 26.4. For all of those reasons, Nvidia looks like the far better AI stock right now.

Shares of Nvidia fell about 1% Thursday and briefly dipped below a key technical measure. That could mean more downside ahead. Nvidia stock has now tumbled nearly 11% so far this