Nvidia (NASDAQ: NVDA) is positioned as a leader in the artificial intelligence (AI) market, controlling an estimated 92% to 98% of the data center GPU market in 2023, according to various sources. Generative AI is projected to boost the global economy by $2.6 trillion to $4.4 trillion over the next decade, with Nvidia playing a crucial role in its development. In fiscal 2024, Nvidia reported revenues of $60 billion, a 126% year-over-year increase, and earnings per share (EPS) of $11.93, up by 586%.
For fiscal 2024 Q1 (ending April 28), Nvidia’s revenue reached $26 billion, marking a 262% increase year-over-year, while EPS surged to $5.98 (+629%). Looking ahead, Nvidia is projected to report second-quarter revenues of around $28 billion on August 28, exceeding analyst expectations of $28.6 billion.
Additionally, Nvidia’s R&D investment hit nearly $8.7 billion in fiscal 2024, representing 14% of total revenue and solidifying its market lead. As a result, the stock price has surged over 500% in the last three years, and the company recently increased its dividend by 150%.
