Could Nvidia Stock Help You Retire a Millionaire?
Over the past ten years, Nvidia's (NASDAQ: NVDA) stock skyrocketed 13,120%. That gain would have turned a $10,000 investment into more than $1.3 million. The same investment in an S&P 500 index fund would only have grown to $27,000.
Nvidia's stock caught fire as its sales of gaming and data center GPUs soared. Between fiscal 2013 and fiscal 2023 (which ended this January), its revenue rose at a compound annual growth rate (CAGR) of 20% from $4.28 billion to $26.97 billion as its adjusted net income grew at a CAGR of 28% from $728 million to $8.37 billion.
In the past 12 months alone, Nvidia's stock surged roughly 210% as the expansion of the AI market fueled more purchases of its high-end data center GPUs to process machine learning and AI tasks. Most of the top generative AI platforms, including OpenAI's ChatGPT and DALL-E, are currently powered by Nvidia's GPUs.
Source Fool.com
