Stocks
Nvidia Stock Hits Record High Amid 41% Revenue Surge
Nvidia's stock price has reached a new record high of $237.87, surpassing its previous peak in May.
The company's quarterly revenue grew by 41% from $68.1 billion to $96.2 billion, with data center revenue accounting for over 90% of the total revenue in the last quarter.
Nvidia's management expects fiscal third-quarter revenue to reach around $108 billion, a 59% increase from the previous quarter's revenue.
The stock's price-to-earnings ratio on adjusted earnings has dropped from 51 to 34, making it about a third cheaper than it was in May.