Shares of NVIDIA Corp. have been on a tear over the past year, with shares climbing to record highs as the company continues to benefit from the growing demand for its graphics processing units (GPUs).
The Santa Clara-based company’s stock has more than doubled in value over the past 12 months, thanks to strong demand for its gaming and data-center offerings. NVIDIA’s GPUs are used in a range of applications, from PCs to servers to gaming consoles, and the company is well-positioned to capitalize on the growth of the artificial intelligence (AI) market.
The company has been expanding its presence in the AI market, with its recently announced partnership with Microsoft to develop an AI-based platform for data centers. NVIDIA’s GPUs are also being used in self-driving car initiatives, and its graphics processors are at the heart of the new wave of virtual reality headsets.
The strong demand for NVIDIA’s products has led to a surge in its stock price, and the company’s market capitalization has now passed the $100 billion mark. This is a significant milestone for the company and it is testament to the success of its products and the potential for further growth.
The company’s growth prospects look bright, with increased demand for its GPUs from the gaming, data-center and AI markets. Investors have obviously taken note of this and have responded accordingly, sending NVIDIA’s shares to record highs.
It remains to be seen whether NVIDIA can continue its impressive run, but for now investors appear to be betting that the company’s GPUs will remain in demand for the foreseeable future.