Nvidia's Valuation Just Hit Lows Not Seen Since 2019, Even as Its Profits Doubled
The chipmaker accelerated its growth yet again, and the stock is selling for a song.
Overview
Nvidia is likely one of the most closely watched stocks on the market. The company's graphics processing units (GPUs) were crucial in the advent of generative artificial intelligence (AI) in late 2022, and the chipmaker has become a bellwether for the AI landscape. All eyes were on Nvidia as the company released its quarterly financial report after the market close on Wednesday.
Investors were hoping for insight into the state of AI adoption and whether AI had room to run, and that question was answered with a resounding "yes."
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Originally published at www.fool.com.
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