Prediction: This Will Be Nvidia's Next Big Move
Nvidia's (NASDAQ: NVDA) performance has been nothing short of remarkable of late. I'm talking about Nvidia the stock and Nvidia the company. The stock's performance speaks for itself. Shares have exploded higher by about 725% since January 2023.
But that surge in price wasn't just driven by overexuberant investors. Nvidia's business itself has exploded -- and its data center business, in particular. Revenue from that segment has more than quintupled in the past year, helping to drive Nvidia's net income up by more than 600%. Growth from sales of the company's artificial intelligence (AI) chips to data centers hasn't yet peaked, but there are already indications of what could drive Nvidia stock's next big move higher.
Nvidia's recent good fortune didn't come by chance. Many years of research and development allowed it to create the most technologically advanced graphics processing units (GPUs) in the industry, and have them available for customers just when the need for that type of computing power skyrocketed. Now, even as it works to accelerate its manufacturing to catch up with current demand, Nvidia already has its next-generation Blackwell chip series in production.
Source Fool.com
