Nvidia Corp (NASDAQ-NVDA) will release its second quarter 2024 financial results on August 28, 2024. When the company reported its first quarter 2024 financial results its revenue increased to $28.65 billion, up 112% from the same quarter a year earlier. Based on this, global analysts say to expect a similar or higher jump for the second quarter of 2024, which the company will release on August 28, 2024. Nvidia has far outpaced most of the market in terms of share price appreciation, rising over 240% in 12 months. Nvidia is also not shy about investing in the future. Its next-generation Blackwell platform, due to hit the market next year, will accelerate computing power in six areas, including quantum computing and generative artificial intelligence, and will be more energy efficient than its predecessor.
The charm of artificial intelligence is the long-term ability of software and systems to learn without human intervention. This gives AI-driven software and systems the ability to become more efficient at performing tasks and to evolve to learn new skills. With a market that encompasses most sectors and industries, PwC analysts believe that AI can add $15.7 trillion to the global economy by 2030.
Nvidia Corp (NASDAQ-NVDA) also revealed improved generative AI that will be delivered in new chips. In Denver, CEO Jensen Huang described the company’s role in developing AI as well as chips and hardware in the world. For example, the company is currently making AI services and models available to help robot makers accelerate the development of humanoid robots to help researchers teach robots how to perform certain tasks using devices such as Apple’s Vision Pro virtual glasses. The company also recently revealed at a conference in Denver, a future collaboration between Nvidia and Facebook in the areas of graphics and virtual environments.
Nvidia Corp (NASDAQ-NVDA) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 0.03% 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 $149.89 per share.
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