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cailianshe news, september 11 (editor: huang junzhi)since the "ai leader" nvidia released its second-quarter earnings report last month that failed to meet "super-high expectations", the company's stock price has been declining, but some analysts believe that the stock's rally is far from over.

dan niles, founder and portfolio manager at niles investment management, said he remains bullish on the artificial intelligence giant for the foreseeable future.

that’s because companies are still willing to pay for ai spending, and nvidia appears to be following the pattern of other companies that have soared in previous tech bubbles, he said in a new interview.

"i still believe there's a lot of room. i would say in the short term, i think you have to go through a digestion phase. i firmly believe that over the next few years, nvidia's revenue will double again from current levels and the stock price will double," he said.

niles further explained that cisco, which dominated the dot-com bubble in the late 1990s, had a peak revenue of about 15 times that of 1994, while its stock price soared nearly 4,000% from 1994 to 2000. the company continued to plummet during the dot-com bubble burst, with its stock price plummeting about 85% from peak to trough.

by comparison, nvidia's stock price has only risen about 1,500% in the past six years. niles believes this could mean the chipmaker has more upside before it is impacted.