Nvidia is a titan of the Artificial Intelligence and the gaming industry. Nvidia has had an extraordinary adventure in the market in the first two quarters this year. This article goes through the key events and milestones that have shaped Nvidia’s stock performance during the period.
Stock Split and Market Response
Nvidia executed a planned 10-for-1 stock split early this year. Splitting stock is a move that has had both positive and negative outcomes for the companies in history. Nvidia’s split is effective as of June 7, 2024. The split was aimed at making the stock more accessible to investors, reflecting the continued growth of the company in the AI sector. Regardless of the historical trend of Nvidia’s stock, the shares have advanced 33% since the announcement made on May 22, 2024.
Surpassing the $1000 Mark
A significant highlight was when Nvidia’s stock rose past $1000. On May 23, 2024, Nvidia’s shares crossed over $ 1,000, supported by the AI rush and its strong first-quarter earnings report. The report exceeded the expectations of Wall Street. This milestone underscored the strong demand for AI chips and positioned Nvidia as the global leader in the industry.
Financial Performance and Revenue Growth
Nvidia’s financial results for the fourth quarter and fiscal year 2024 were announced on February 21, 2024. The results showcased the surging demand for accelerated computing and generative AI globally. Nvidia’s data center platform contributed significantly to the revenue, reaching an estimated $119.9 billion for the fiscal year ending in January 2025.
Nvidia’s journey for the first two quarters of the year 2024, reflects the tech giant as an AI revolution leader, making strategic decisions such as the stock split and achieving significant milestones like the stock price crossing $1000. The company’s focus on AI and accelerated computing continues to drive its success, foreseeing an exciting future for investors and the industry.
Please refer to the comprehensive reports and financial statements provided by the company.