Nvidia beats expectations: shares shoot up!

23. 02. 2024 | Natalie Bezděková

Nvidia’s financial results for the last quarter of last year exceeded all expectations and redrew the economic map. The US chip giant reported a meteoric rise in profits to $12.3 billion, a jump of 769 per cent compared to the same period last year. Sales reached a respectable $22.1 billion, a dramatic increase of more than three times compared to the previous year.

What’s particularly notable is that roughly 40 percent of Nvidia’s revenue comes from big players like Amazon, Meta, Alphabet and Microsoft. The recent deal with Cisco opens up further opportunities for the company’s expansion into the enterprise sphere. This success comes despite restrictions imposed by the US government, which bans the supply of AI technology to China.

The market reaction to these remarkable numbers has been impressive. The company’s stock has appreciated by more than 16 percent, resulting in a $277 billion increase in market value. Nvidia now dominates with a market value of $1.96 trillion, larger than the entire energy sector within the S&P 500 stock index.

Despite these stunning results, there is concern among some investors about a potential bubble that could burst. However, many analysts say Nvidia still offers interesting investment opportunities, especially given its dominant market position.

Photo source: www.pexels.com

Author of this article

Natalie Bezděková

I am a student of Master's degree in Political Science. I am interested in marketing, especially copywriting and social media. I also focus on political and social events at home and abroad and technological innovations. My free time is filled with sports, reading and a passion for travel.


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