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Nvidia in the interest of investors

Nvidia is the world leader in chipsets for computer components. With the development of the GPU graphics card in 1999, the company spurred the development of the computer gaming market. Nvidia also redefined modern computer graphics and revolutionized parallel computing. Nvidia’s current growth trend is mainly due to the development of GPU chips with artificial intelligence AL, the start of a new level of computers with GPUs that function like the brains of robots, but also cars, and thus have the ability to perceive the world in a realistic way. The company is designing the most advanced chips, systems and software for the factories that will run Al in the future. The company is also creating new AI services to help companies create their own Al factories.

The Financial Times recently revealed via a press release on its website that Nvidia plans to triple the production capacity of its H100 AI processor to 1.5 million units by 2024. Given the limited supply of these high-performance chips, the planned production is a good indicator of future demand. The cost of producing these graphics cards is a major reason why Nvidia is one of this year’s best stocks to buy. Nvidia’s net income for the second quarter of 2023 was $6.7 billion, a year-over-year increase of 248% from the same quarter of the previous year, which was $2.7 billion. The company’s stock has risen 303% to $410.7 per share in the 12 months to October 30, 2023.

Few names have garnered as much attention in 2023 as NVIDIA Corp (NASDAQ-NVDA). Known for its cutting-edge semiconductor technology, this giant has seen its stock rise more than 130% year-over-year, making it a headline-grabbing title in investment circles. Much of this meteoric rise can be attributed to the robust production and sales performance of Nvidia’s H100 GPU (micro-architecture GPU), which debuted in the third quarter of fiscal year 2023. However, as the saying goes, what goes up must also come down, and Nvidia stock is no exception. NVIDIA recently reported second quarter earnings results that came in above the expectations of global analysts. The company’s revenue was up 101% year-over-year to $13.51 billion. The company also posted record year-over-year growth in data center revenue with a 171% increase to $10.32 billion.

NVIDIA Founder and CEO Jensen Huang said, “A new era of computing has begun. Companies around the world are transitioning to generative AI, where NVIDIA GPUs connect to their Mellanox networking technologies, which run on our CUDA AI software suite to form the computing infrastructure for generative AI.

NVIDIA Corp (NASDAQ-NVDA) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 0.040% per annum and the actual dividend amount has been approved by the company’s general meeting of shareholders at $0.04 per share. The average target price for the short to medium term investment horizon has been set at US$645.53 per share.