From Nasdaq: 2024-04-02 12:00:00

Nvidia’s exceptional financial performance is expected to continue, with revenue and adjusted EPS forecasted to surge 234% and 396% year-over-year in the quarter ending late April. The company’s stock soared 82.5% in Q1 2024, making it the second-best performer on the S&P 500, driven by strong demand for its AI chips.

Nvidia’s dominance in the AI chip market is fueled by the high demand for its GPUs, with an estimated 90% share of the data center AI GPU chip market. The company’s leadership in AI technology is further solidified by its large ecosystem of over 4.7 million developers worldwide using CUDA and other software tools.

The virtuous cycle created by Nvidia’s AI technology leadership and widespread adoption of its computing platforms ensures a tight grip on the AI GPU market. This strategic advantage, coupled with the company’s long history in developing CUDA programming model for GPUs, positions Nvidia for sustained success in the AI chip space.

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Read more at Nasdaq: 4.7 Million Reasons Why Nvidia’s Artificial Intelligence (AI) Chip Dominance Will Be Nearly Impossible to Topple