NVIDIA’s big win in 2024
$NVIDIA(NVDA.US$ Nvidia has seen an impressive $277 billion increase in its market value, driven by strong demand for its AI technologies. This growth has boosted Nvidia's market cap to $1.89 trillion, again highlighting its role in the tech industry and AI competition.
Their stock reached new heights, with a notable rise after it announced that their revenues in 4th quarter were $22.1bn, far exceeding Wall Street expectations of $20.4bn, they also projected sales of around $24 billion for this quarter.
Nvidia has once again shown its dominant position in the AI sector. The data center division, which is Nvidia's biggest revenue source, has reported a 409% increase in revenue compared to the previous year. It proceeded to be the biggest single driver of gains in the S&P 500, surpassing Alphabet and is now the third-most valuable US-listed company, only behind Microsoft and Apple.
That being said, Nvidia is also facing competition and regulatory challenges, particularly in China. They have officially identified Huawei as its top competitor, and ongoing innovation and expansion efforts will be very crucial to continue its success.
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