Should You Buy Nvidia Before Nov. 19?
In 2023, Nvidia (NASDAQ: NVDA) surpassed a $1 trillion market cap. By 2024, it had surpassed $3 trillion. This year, it zoomed higher to become the largest company in the world, with a current market cap of $5 trillion. Investors cannot get enough of the semiconductor company that is powering the artificial intelligence (AI) revolution.
Nvidia keeps signing large contracts with partners like OpenAI, keeping the semiconductor floodgates open. With the sector set to spend trillions of dollars on capital expenditures in the next few years, Nvidia looks primed to continue growing its $165 billion in annual revenue, which is up 1,000% in the last five years. Does that mean you should buy Nvidia stock before it reports earnings on Nov. 19?
Even though Nvidia's revenue has soared to $165 billion, the end market demand for its high performance computer chips looks ready to grow over the next few years. OpenAI -- the fastest-growing AI company in the world -- is set to spend around $1 trillion on infrastructure through various funding deals, over many years. It recently announced a $100 billion partnership with Nvidia.
Source Fool.com
