NVIDIA Corp. (NASDAQ:NVDA) reports fiscal second-quarter results next Wednesday after the market close, and the print arrives as the chipmaker’s remarkable AI-driven rally faces a stagnant stretch.
NVDA stock is trending. See the chart and price action here.
Nvidia shares have surged from roughly $11 in late 2022, split-adjusted, to about $216 today, a gain near 1,700% since ChatGPT’s November 2022 launch kicked off the AI boom, according to Bespoke Investment Group.
The move ranks among the most powerful multi-year runs by any large-cap stock in recent market history, and the long-term chart remains firmly in an uptrend despite a sluggish past year.
Bespoke highlights just how dramatic the shift in fundamentals has been. Quarterly revenue has exploded since late 2022, blowing past Wall Street’s consensus estimates by wide margins nearly every period. Few companies have seen fundamentals catch up to a stock’s rally quite like this one.
