NVDA - Could NVIDIA Be a Millionaire-Maker Stock?
NVIDIA (NASDAQ: NVDA) has long dominated the graphics processing unit (GPU) market. GPUs power the computing technology needed to play video games, and NVIDIA's gaming business generated revenue with an 11% compound annual growth rate (CAGR) over the past three years.
But NVIDIA is just getting started. The company could deliver significant gains for investors as it expands the application of its technology beyond gaming. Let's take a deeper dive into NVIDIA and what it does to get a better sense of whether it could be a millionaire-maker stock.
NVIDIA still generates the largest share of its revenue from gaming, but it's no longer just a gaming company. It's applied its expertise in computing power to data centers, a key component of the red-hot cloud computing space, and to the market for artificial intelligence (AI).