Nvidia stock has surged over 155% this year driven by demand for Hopper GPU platform.

From Motley Fool: 2024-07-17 10:00:00

Nvidia stock has surged over 155% this year, driven by demand for its Hopper GPU platform and AI advancements. In Q1, Data Center revenue hit $22.6 billion, up 427% year-over-year. Despite the impressive rally, questions remain about sustainability.

Market experts predict continued growth for Nvidia’s Data Center segment, with demand for Hopper GPUs driving revenue. The upcoming launch of the H200 GPU is expected to boost performance and revenue further, with strong demand already outpacing supply.

Nvidia’s Gaming segment revenue grew by 18% year-over-year in Q1, driven by strong demand for GeForce RTX Super GPUs. With over 100 million installed GPUs, Nvidia expects solid revenue growth from gamers, creators, and AI enthusiasts in the future.

With $31.4 billion in cash, Nvidia plans to reward shareholders through buybacks and dividends. In Q1, the company returned $7.8 billion to shareholders. This shareholder-friendly approach is expected to continue, providing further upside for investors.



Read more at Motley Fool: Why I’d Buy Nvidia Stock Even at Today’s Prices