It reached $504 per share.
Investors are looking forward to the publication of NVIDIA’s quarterly report, which is scheduled for tomorrow. As CNBC explains, NVIDIA shares have gained 245% this year, largely driven by advances in artificial intelligence as the company develops specialized accelerators that are widely used in this market segment. NVIDIA’s capitalization now exceeds $1.22 billion; formally, this company is more expensive not only than the Meta Platforms company banned in the Russian Federation, but also Tesla, owned by Elon Musk, which made him the richest person on the planet.
Image Source: NVIDIA
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In the second quarter, NVIDIA’s revenue grew by 171% year-on-year to $10.32 billion. From the results of the third quarter, investors expect similar dynamics with an increase of 172% to $16.2 billion. Of this amount, the server segment should account for about $13.02 billion , which is almost four times higher than the result of the same period last year. In fact, the server segment will contribute about 80% of NVIDIA’s quarterly revenue if these forecasts come true. In the fourth quarter, analysts expect the company’s revenue to grow 192% year-over-year, but growth should slow next year. It is unlikely that the company’s management will give any forecasts for this particular period, but investors will eagerly listen to any such signals that the traditionally eloquent founder of NVIDIA will send at tomorrow’s reporting event. Meanwhile, even before the publication of the report, the company’s share price reached a new historical high, settling at more than $504.
