Nvidia’s stock price has soared over the last 12 months amid high demand for its AI chips. Here’s how much a $1,000 investment made 10 years ago would be worth.
As excitement surrounding artificial intelligence technology appears to show few signs of slowing down, investors are looking to Nvidia’s latest quarterly earnings report to see whether the company’s meteoric growth can last.
The technology company considered to be at the heart of the AI chip boom reported its fourth quarter earnings after the stock market’s close on Wednesday, beating expectations for both earnings and sales, CNBC reports. The company’s total revenue is up 265% from a year ago.
For context, Nvidia makes powerful computer chips that power popular AI tools like OpenAI’s ChatGPT and Microsoft’s Copilot. High demand for those chips has propelled the company into Wall Street’s exclusive trillion-dollar market capitalization club.
As of market close on Feb. 21, the tech company’s market cap sat at $1.667 trillion, putting it behind Alphabet’s $1.779 trillion market cap. It’s also behind Microsoft and Apple, which hold market caps of $2.988 trillion and $2.
