Between 19, NVDA created $309.4 billion in wealth for shareholders, according to calculations by Hendrik Bessembinder, a finance professor at the W.P. Long-time followers of Nvidia stock probably already know that it happens to be one of the best stocks of the past 30 years. "All the technology came together and helped everybody realize what an amazing product that can be and what capabilities it can have." Analysts: Nvidia stock is still a buy "I call it the iPhone moment,” Huang told The Wall Street Journal, comparing NVDA's position in generative AI to the way Apple's ( AAPL) iteration of the smartphone essentially ushered in a new era of tech. As Nvidia CEO Jensen Huang said in an interview last spring, the company has been preparing for years to take advantage of the AI craze. That's certainly understandable given what they see as historical precedent. Naturally, traders and investors could not be more elated. The key to the investment thesis on NVDA stock is that AI data centers will continue to have an almost insatiable need for Nvidia's products. For the full fiscal year, Wall Street expects the company to post revenue of more than $54 billion – a 100% increase over last year's revenue of $27 billion. Analysts were looking for revenue of "only" $11.1 billion. It's churning out a new generation of advanced chips to power the data centers tasked with making the calculations that conjure all this AI magic.ĭemand is so great for Nvidia's hardware that the company's second-quarter revenue more than doubled year-over-year to $13.5 billion. And Nvidia's place in this ecosystem couldn't be more enviable. The world is suddenly awash in all sorts of AI wizardry, with more sites and tools and apps coming every day. Most industry analysts, however, would beg to differ. If the idea is to buy low, then it's perhaps reasonable to assume that it's far too late to add Nvidia stock to your portfolio. In its fiscal second-quarter earnings, the company said its quarterly revenue doubled from a year earlier, and it expects sales in the current quarter will grow 170% from the year-ago period.NVDA stock was up 211% for the year-to-date through November 6, pushing its market cap up to $1.12 trillion. As of Monday morning, Nvidia's stock is up nearly 212% year to date. In the interview with Wired, Pichai described AI as "one of the most profound technologies we will ever work on." Google has been jostling with the likes of OpenAI and Microsoft to be at the forefront of AI innovation, and it has introduced a number of AI solutions, like its chatbot Bard, across its business units. Nvidia's business has been booming because its powerful graphics processing units, or GPUs, are being sought after by cloud companies, government agencies and startups to train and deploy generative AI models like the technology underpinning OpenAI's ChatGPT. Nvidia's stock closed at a record high after the announcement. In August, the two companies announced a partnership that will give Google's cloud customers greater access to technology powered by Nvidia's H100 GPUs. I feel comfortable about our relationship with Nvidia and that we are going to be working closely with them 10 years from now." "It's an industry that needs deep, long-term R&D and investments. "Look, the semiconductor industry is a very dynamic, competitive industry," Pichai said. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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