3 Catalysts Driving Growth of NVIDIA Stock
NVIDIA's (NASDAQ: NVDA) business turned in impressive numbers for the fiscal first quarter. Overall, revenue climbed 39% year over year, as data center customers continue buying NVIDIA processors to facilitate high-performance computing and artificial intelligence training workloads. NVIDIA just launched the A100 chip for data centers, which contributed to strong demand last quarter.
Gaming was also strong, with revenue up 27% year over year. Despite the faster rate of growth from the data center business, selling graphics cards to gamers is still NVIDIA's largest business, and CEO Jensen Huang believes the shift toward remote work, which accelerated around COVID-19, could fuel growing demand for gaming chips long after the pandemic is over.
Here are three catalysts that should drive continued demand for NVIDIA's chips.
Source Fool.com
