"Nvidia ( NASDAQ:NVDA ) remains the unrivaled leader in artificial intelligence (AI) chip technology, continuing to reshape the tech landscape with its graphics processing units (GPUs) driving innovations from immersive gaming to the neural networks powering ChatGPT. Shares of NVDA stock currently trade just below $176 per share, down less than 5% from its August intraday all-time high of $184.48 but reflecting a robust 31% year-to-date gain amid the AI boom."
"AI Dominance Fuels Unrelenting Growth Nvidia isn't merely capitalizing on the AI revolution - it's defining it. In its second-quarter earnings report, the chipmaker reported a staggering $46.7 billion in revenue, up 56% year-over-year and 6% sequentially, propelled by its Data Center segment generating $41.1 billion for 87% of total sales. Demand for Hopper and Blackwell GPUs, critical for AI workloads, drove this surge, with Blackwell revenue alone climbing 17% quarter-over-quarter. CEO Jensen Huang described the momentum as "unprecedented,""
Nvidia dominates the discrete GPU market at 92% and holds over 80% of the AI accelerator market, supported by the CUDA software ecosystem that locks in developers. Second-quarter revenue reached $46.7 billion, a 56% year-over-year increase, with Data Center sales contributing $41.1 billion or 87% of total revenue. Strong demand for Hopper and Blackwell GPUs, including a 17% quarter-over-quarter rise in Blackwell revenue, drove results. The stock trades near $176, up 31% year-to-date, with a consensus Moderate Buy and an average 12-month target of $208. Cash stands at $57 billion versus $8.5 billion in debt.
Read at 24/7 Wall St.
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