Nvidia’s stunning surge in 9 financial charts

Nothing exemplifies selling shovels in a gold rush like Nvidia. The American fabless firm – famous for making graphics processing units (GPUs) for computers – has reached the stratosphere.

Its revenue surged five-fold in less than two years, and its market value surpassed US$4 trillion in 2024.

Driving this growth is the AI boom. Its market-dominant data center unit is making a windfall selling GPUs to tech companies that need them to train their cutting-edge large language models. Its customers reportedly include Amazon, Meta, Microsoft, OpenAI, and Alphabet.

It’s not just Nvidia’s top line that is prospering. Its margins have risen to record highs too, indicating tremendous economies of scale.

But how long will this last? Fears are growing that the tech industry will not reap the returns on its sizable investments in AI. Will Nvidia’s business fall back to earth? Or will it continue its hot streak?

In this series of charts, which are updated every quarter, we’ll keep track of Nvidia’s quarterly earnings releases, which could indicate whether investments in AI are heating up or slowing down.

The visuals are interactive. Tap on the legends to hide or show your desired metric. Note that Nvidia’s financial year starts in February.