Nvidia's success in AI chip market driving triple-digit growth in revenue and net income.

From Nasdaq: 2024-04-06 11:30:00

In the past five years, Nvidia shares have skyrocketed 1,800%, driven by its dominance in the AI chip market. Revenue and net income have seen triple-digit growth, with data center revenue accounting for over 80% of total revenue in the latest quarter.

The prevalence of companies discussing AI during earnings calls has significantly increased. More than 16% of companies mentioned AI last year, up from under 10% the previous year. This suggests there is still room for growth in AI projects, potentially benefiting chip leader Nvidia and driving further revenue growth.

Despite Nvidia’s success, the Motley Fool Stock Advisor team did not include it in their list of top 10 stocks to buy now. The service has outperformed the S&P 500 by tripling returns since 2002 and offers expert insights and timely stock picks to help investors navigate the market landscape.



Read more at Nasdaq: This Trend Addresses a Critical Question You May Have About Nvidia’s Future