Could Rigetti Computing Become the Next Nvidia?
Over the past 10 years, a $1,000 investment in Nvidia (NASDAQ: NVDA) would have grown to roughly $265,840. A large portion of that rally was fueled by its soaring sales of data center GPUs for processing AI tasks.
Unlike CPUs, which only process a single piece of data at a time, GPUs can process a wide range of integers and floating point numbers simultaneously. That key advantage, along with Nvidia's leadership of the discrete GPU market, made it the linchpin of the booming AI market.
From fiscal 2014 to fiscal 2024 (which ended in January 2024), Nvidia's revenue grew at a compound annual growth rate (CAGR) of 31%. Analysts expect its revenue to rise at a CAGR of 56% from fiscal 2024 to fiscal 2027 as the AI market expands.
Source Fool.com
