Chipmaker Nvidia (NASDAQ: NVDA) has dominated the artificial intelligence (AI) stock space, outperforming most of the market with strong underlying fundamentals heading into the new year.
Artificial intelligence (AI) continues to be one of the biggest driving forces in the stock market. While chipmakers and cloud computing companies have been the biggest early beneficiaries, software companies are starting to see nice growth opportunities emerge as well.
This company may not have spent as much time in the spotlight as AI chip powerhouse Nvidia, but its stock has soared in 2024.
Nvidia (NASDAQ:NVDA) stock was pretty flat for the month of November, rising close to 2%, while most other mega-cap tech titans took off on the back of Donald Trump's presidential win.
Zacks.com users have recently been watching Nvidia (NVDA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
NVIDIA's stock has surged dramatically, with a 29,473.10% increase over the past decade and 190% in the past year, driven by strong earnings and CapEx spending. Despite increased competition, NVDA's profitability and margins have expanded significantly, with a potential to become the first $5 trillion company. NVDA's Q3 earnings were exceptional, with revenue and EPS growth driven by robust data center business and ongoing CapEx from tech giants.
Artificial intelligence (AI) is already a huge growth driver for many tech companies and will likely be a catalyst for years to come. IDC research estimates that AI spending will contribute nearly $20 trillion to the global economy by 2030.
The production of its most advanced semiconductor has so far been produced in Taiwan. But that could change, according to a Reuters report.
EU antitrust regulators are asking Nvidia rivals and customers if the U.S. artificial intelligence chipmaker bundles its products that may give it an unfair advantage, people with direct knowledge of the matter said, in a move that may lead to a formal investigation.
Nvidia (NVDA -0.05%) is an example of the life-changing potential of stock market investing. If you'd bought $10,000 worth of the stock 10 years ago, you would have an eyewatering $2,947,300 today -- a return of over 29,000%.
Two names that consistently dominate headlines are Elon Musk and Nvidia (NVDA -0.05%). Both names often take center stage, but it's quite rare to see Musk and Nvidia in the same sentence.
Qatari telecom group Ooredoo is on a hunt to acquire data centers because it can't build them fast enough to house Nvidia's latest-generation of artificial-intelligence chips, its chief executive said.