From Nasdaq:

Nvidia (NASDAQ: NVDA) has seen a remarkable 240% rise in share price over the last year, making it the best performer among top stocks. This surge has driven its market cap to $1.96 trillion, making it the fourth most valuable company globally. The company’s focus on AI has been a major factor in its growth.

Nvidia’s shift towards designing GPUs for data centers in the early 2010s has reshaped its business dramatically. The company’s compute and networking segment became its primary revenue driver in fiscal year 2023. This move has positioned Nvidia as a key player in cloud technologies and AI advancements.

With a stronghold on 90% of the advanced GPU market for AI applications, Nvidia’s sales, earnings, and stock price have all experienced significant growth. The soaring demand for AI technologies has propelled the company’s success, solidifying its position as a leader in the semiconductor industry.

The Motley Fool Stock Advisor team has identified 10 top stocks for investors to consider, but Nvidia is not among them. Stock Advisor offers insights, updates, and stock picks to help investors navigate the market and potentially generate high returns. Since 2002, Stock Advisor has outperformed the S&P 500 threefold.*

*Stock Advisor returns as of February 26, 2024. Expert Keith Noonan has no personal stake in the mentioned stocks. The Motley Fool discloses its positions in and recommendations for Nvidia.

Disclaimer: The opinions expressed are solely those of the author and may differ from Nasdaq, Inc.’s views and opinions.



Read more at Nasdaq: This 1 Chart Shows How Nvidia Became the Most Explosive “Magnificent Seven” Stock