Prediction: This will be Nvidia’s biggest move yet.

Nvidia (NVDA 1.63%) is known for inventing, always being one step ahead and surprising the market with its latest innovations. This has helped the company dominate the artificial intelligence (AI) chip market, capturing 80% share and becoming an overall AI powerhouse.

Nvidia is no longer just about AI chips. The company sells a range of products and services, from networking to enterprise software, to help customers with AI projects.

All of this has helped Nvidia stock soar to four-digit levels over the past five years, and this year alone it’s headed for a gain of more than 160%. Nvidia shares may not rise in a straight line forever and have fallen at points this year – but the company still has plenty of fuel in the tank to deliver spectacular stock performance over the long term.

The stock could get a boost from recent news from Nvidia. I expect this to be the company’s biggest move yet.

The ideal chip for AI tasks

Let’s review Nvidia’s journey so far to get an idea of ​​how powerful this company has become in the AI ​​world. Nvidia originally served primarily the video game market with its graphics processing units (GPUs), but gradually expanded the reach of these chips to other areas, including AI. The GPU’s ability to handle multiple tasks simultaneously makes it the ideal chip for important AI tasks such as model training and inference.

Nvidia’s chips are the fastest ever. Although they are also the most expensive, customers flock to the company. One reason for this could be that customers who want to succeed in the AI ​​market see working with the strongest products from the start as the best way to achieve this goal.

They may also agree with Nvidia CEO Jensen Huang on the following point: Nvidia’s chips will save customers time and make workflows more efficient because of their high performance, resulting in a lower total cost of ownership over time. In the long run, Nvidia’s chips could represent the best bargain.

Here’s an anecdote that illustrates how eager big companies are to get on board with Nvidia. Recently, oracle Co-founder Larry Ellison said that he and Tesla Boss Elon Musk “begged” Nvidia’s Huang to sell them more chips. Nvidia has struggled to meet the needs of these companies as demand for its chips exceeded supply.

Now let’s look at Nvidia’s latest move, which I suspect could be its biggest. The tech giant expanded its partnership with Accenture (ACN -0.70%) – and in the course of this, the latter founded the Accenture Nvidia Business Group. This is a 30,000-person team that helps customers boost their AI projects and scale their adoption of enterprise AI.

Using the full Nvidia AI stack

As part of this, Accenture AI Refinery – using the full Nvidia AI stack – will help customers reimagine their processes and even develop areas such as sovereign AI. The refinery will be found in all public and private clouds, making it easily accessible.

This may be particularly important for Nvidia as it extends the reach of this AI powerhouse even further. And this comes against the backdrop of increasing demand for AI from Accenture customers.

The consulting and services company said in its recently completed fiscal year that generative AI demand drove $3 billion in bookings, $1 billion of which came in the most recent quarter. It’s also important to remember that Accenture is a large player with clients in more than 120 countries and therefore has significant reach.

This presents Nvidia with another opportunity to expand its AI market share and further strengthen its reputation as the “go-to” company for AI products and services. All of this should amount to another big wave of sales growth.

That’s why I think this expanded partnership with Accenture will be Nvidia’s biggest move yet. This also makes this top AI stock a great player to buy now and hold for the long term to potentially benefit from future gains.