This 1 Chart Shows How Nvidia Became the Most Explosive "Magnificent Seven" Stock
Nvidia (NASDAQ: NVDA) has been on an incredible run over the last year. The artificial intelligence (AI) leader's share price has soared roughly 240% over the last 12 months, making it the best-performing "Magnificent Seven" stock across the stretch. The explosive performance has pushed the company's market cap to roughly $1.96 trillion, and it now ranks as the world's fourth-most valuable company.
Nvidia was founded in 1993 and got its start as a designer of graphics-processing-units (GPUs) used for video games and other visually intensive applications. The company's first GPUs released in 1999 and immediately delivered major leaps forward in graphical capabilities, but the rise of advanced processors in data centers has been the true driver of the AI frontrunner's incredible growth.
At the beginning of the last decade, Nvidia began focusing more on designing GPUs for data centers. It was a move that would go on to dramatically reshape the company's business and lead to major leaps forward in cloud and technologies. For more context, check out the chart below, which tracks the progression of the processing leader's business groupings and revenue by segment.
Source Fool.com
