Why Nvidia has zoomed 227% in the last 12 months

Epic growth

The California-based tech giant has seen its revenues double and its profits skyrocket at least nine times in each of the last three quarters.

Reason?

Revenue from its data centre segment more than doubled in each of the last three quarters. In the most recent quarter, its revenue was up five times.

Business pivot

Earlier, Nvidia was known for its gaming segment. However, the data centre business now contributes to 78 per cent of total revenue in FY24 as compared to just 39 per cent in FY22.

Still game

The company’s not neglecting its gaming business though. It posted a minimum revenue growth of 20 per cent (YoY basis) in three consecutive quarters.

Breaking new ground

Earlier this year, it introduced four AI softwares with its latest processors, primarily used for generative AI applications. Open AI, the ChatGPT parent, is a customer, too.

Defying gravity

Nvidia stock is not only up 227 per cent in the last one year but has also grown 40 per cent in 2024 so far.

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