For the past year, the soaring success of NVIDIA has been the stuff of fairytales. Once primarily known for its ties to gaming—particularly indie gaming—the technology company found itself in a historic rally as its hardware and software products became the driving force of the artificial intelligence boom.
Nowadays, NVIDIA founder and CEO Jensen Huang seems more like a rockstar than a software engineer when he, leather jacket-clad, presents the company’s future products at stadiums, signing his name on women’s chests (no, I am not kidding).
In May of this year, NVIDIA reported a revenue of $26 billion for the first quarter ending in April, marking an 18% increase from the previous quarter and an impressive 262% increase from one year ago.
“The next industrial revolution has begun—companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center—AI factories—to produce a new commodity: artificial intelligence,” said Huang in a statement, further promising investors that,
“We are poised for our next wave of growth. The Blackwell platform is in full production and forms the foundation for trillion-parameter-scale generative AI. Spectrum-X opens a brand-new market for us to bring large-scale AI to Ethernet-only data centers. And NVIDIA NIM is our new software offering that delivers enterprise-grade, optimized generative AI to run on CUDA everywhere—from the cloud to on-prem data centers and RTX AI PCs—through our expansive network of ecosystem partners.”
Additionally, NVIDIA announced a ten-for-one forward stock split of its issued common stock to make stock ownership more accessible to anyone interested in investing, especially the company’s employees.
Ever since then, NVIDIA’s stock has been climbing up and up.
Then, in early June, Huang announced NVIDIA’s upcoming AI platform Rubin ahead of the Computex 2024 expo, further boosting NVIDIA’s shares.
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And now, with no sign of slowing down, NVIDIA’s race to the top has placed the company in the number one spot as the world’s most valuable company, according to Greek Reporter. The tech giant’s shares reached an all-time high on Tuesday, June 18, 2024, overtaking Apple and OpenAI-investor Microsoft.
NVIDIA’s stocks closed up 3.51% yesterday, and is up 181.46% year-to-date.
