Key Financial Highlights
SpaceX has emerged as a significant player in Nvidia’s portfolio, representing 33.1%. In June 2023, SpaceX conducted the largest IPO in history and anticipates $1 trillion in revenue by 2030, with a substantial portion from AI. The company reported $2.6 billion in AI revenue in Q2, a 247.5% increase year-over-year, while total revenue hit $7.8 billion, up 92% from the previous year.
CoreWeave, accounting for 7.4% of Nvidia’s portfolio, also reported strong Q2 results with $2.6 billion in revenue (up 112.5% year-over-year) and a cloud backlog of $104 billion, which rose 245.5% year-over-year. Despite being unprofitable, CoreWeave’s rapid revenue growth offers promise.
Intel represents 47.3% of Nvidia’s portfolio and achieved a 25% year-over-year revenue increase to $16.1 billion in Q2 2023. Adjusted earnings per share rose from a loss of $0.10 to a profit of $0.42. However, the company faces competition and manufacturing challenges, leading analysts to recommend caution regarding current stock valuations.
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