On Tuesday, the stock of NVIDIA Corporation (NVDA) reached an all-time high of $716.22, continuing its incredible climb since the beginning of the year. The stock has been on an absolute tear, gaining more than 185% year-to-date, and is up more than 800% since bottoming out at $74.73 in 2014.
The stellar performance of NVIDIA shares is being driven by the company’s strong performance in the data center, gaming and automotive markets. NVIDIA’s data center business, which is focused on providing the processors used in artificial intelligence applications, is the main driver of growth. This segment has seen huge demand from companies looking to build AI-powered applications.
The gaming segment has also been a major contributor to NVIDIA’s success, as the company has been able to capitalize on the rise of eSports and the increasing demand for GPUs used in gaming PCs and consoles.
Finally, the automotive segment has also been a major source of growth for NVIDIA. The company has been at the forefront of autonomous driving technology, and has developed a suite of products and services that are being used to power the development of self-driving vehicles.
NVDA shares have been able to continue their incredible run despite the recent volatility in the markets. This is a testament to the company’s strong fundamentals and its ability to capitalize on the massive opportunities present in the data center, gaming and automotive markets.
As long as NVIDIA is able to continue its strong performance in these areas, investors can expect to see the stock continue its meteoric rise.