NVIDIA Corp (NASDAQ-NVDA) is the world leader in chipsets for computer components. The company spurred the development of the computer gaming market with the development of the GPU graphics card in 1999. 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 as 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 company employs 29,600 tribal workers.
NVIDIA Corp (NASDAQ-NVDA) recently released its fourth quarter and fiscal 2023 financial results, which came in above the expectations of global analysts. The company posted record fourth quarter revenues of $22.1 billion, an increase of 22% over the previous quarter and a whopping 265% increase over the same quarter of the previous year. The company’s record sales came from its data center sales business, at $18.4 billion, up 27% from the third quarter and 409% from the same quarter a year earlier. For the full year, the company earned total sales of 60.9%, up 126% from the prior fiscal year.
NVIDIA CEO Jensen Huang said: “Our strong growth reflects the significant transition from a standard trading platform, to a modern one, through powerful computing and generative artificial intelligence.” The company also said that startups in AI and global cloud services were early movers and more are starting to emerge. Countries are currently investing heavily in AI clouds and proprietary AI for automation across the world’s largest industries to meet demand in their country. According to Nvidia Corp, the AI era is taking off, with GPUs, NVIDIA processors, networking, AI services, foundries and NVIDIA AI Enterprise software being the company’s engines that are currently running at full throttle.
According to experienced Bernstein analyst, Stacy Rasgon, investors who are currently investing their funds in the stock just (NVDA) are particularly concerned about the sustainability of long-term growth, thanks to strong share price growth. Among other things, Nvidia ( NVDA ) has far outpaced most of the market in terms of share price appreciation, rising over 240% in 12 months. NVIDIA Corp (NASDAQ-NVDA) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 0.019% per annum and the actual dividend amount has been approved by the company’s general meeting of shareholders at $0.041 per share. The average target price for the short to medium term investment horizon has been set at US$1004.92 per share.
Graph Source : www.tipranks.com
