With 1000 billion capitalization, Nvidia joins Big Tech and appears as a leading player.
Stock Market Microprocessor NVDIA
A very fast growth.
With +20% above forecasts on these profits, Nvidia far exceeded Wall Street estimates for revenues and profits for the first quarter of 2023
Nvidia forecasts revenue of $11 billion for the next quarter, while Wall Street expected only $7 billion.
Why this growth
Their order book explodes since the boom of artificial intelligence (AI)
The company went public in January 1999.
And since then, she has known:
The Internet-powered technology boom through 2000
The boom in cloud-powered technologies in the 2010s
The COVID-fueled tech boom in 2020/21
During this time, Nvidia has never seen its revenue increase more than 50% quarter over quarter.
Until today when orders are exploding.
Big tech companies like Alphabet and Amazon are developing new AI-driven services and products, so they're buying Nvidia graphics cards en masse to power it all.
NVDIA technology being the basis of Artificial Intelligence (AI), it is normal that NVDIA is the first to benefit from its boom.
However, other AI companies will also join Big Tech in the coming years…