Posted 12/17/2023, 1:15:00 PM
Nvidia's innovation and AI dominance turns early investors into millionaires, with more potential riches to come
- Nvidia stock has created huge wealth, turning a $520 investment at its 1999 IPO into over $1 million today thanks to innovation in AI and graphics chips
- Nvidia dominates the AI chip market for data centers and continues to release new generations of chips, like the upcoming H200, that are faster and more efficient
- Nvidia's data center revenue now makes up 80% of total revenue, compared to just 41% two years ago, showing the explosion in AI demand
- Nvidia doubled its revenue from fiscal 2023 to an expected $58.8 billion in fiscal 2024 and is forecasting continued growth
- With a large market still to address and its commanding market position, Nvidia could mint new millionaires over the next 20 years if its revenue grows 12%+ annually