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NVIDIA Corporation (NASDAQ: NVDA), a prominent technology firm, achieved a remarkable milestone in 2023 by surpassing the $1 trillion market capitalization mark, firmly establishing itself as one of the most valuable companies globally.
At the recent GTC 2024 event, NVIDIA further solidified its position as a leader in the field of artificial intelligence (AI).
In 2023, the company's stock emerged as the top-performing stock in the S&P 500, rewarding long-term investors who had faith in NVIDIA's potential.
Those who invested in NVIDIA since its initial public offering (IPO) have seen significant returns. Here is an analysis of the returns from investing in NVIDIA's IPO:
NVIDIA conducted its IPO on Jan. 22, 1999, with shares priced at $12 each. A $1,000 investment at that time would have purchased 83.33 shares.
Through subsequent stock splits—2:1 in 2000, 2001, and 2006, 3:2 in 2007, and 4:1 in July 2021—the original 83.33 shares would now total 3,999.84 shares.
Based on NVIDIA's current share price of $893.96, the initial $1,000 investment would be worth $3,575,696.97 today, demonstrating remarkable growth and potentially creating millionaires among early IPO investors.
For comparison, investing the same $1,000 in the SPDR S&P 500 ETF Trust (NYSE: SPY) at the time of NVIDIA's IPO would have yielded $6,601.02 today, significantly less than NVIDIA's returns.
Jensen Huang, NVIDIA's CEO, highlighted the company's exponential growth and its pivotal role in the AI landscape at GTC 2024.
He emphasized the transformative impact of AI across industries, calling the computer the most crucial tool today.
Huang credited ChatGPT for capturing consumers' imagination and showcasing AI's capabilities, stating that a new industry has emerged. Since its founding in 1993, NVIDIA has been at the forefront of technological advancements.
It invented the GPU in 1999, redefining the computer industry, and introduced the modern AI era in 2012 with the AlexNet neural network.
In March 2024, NVIDIA unveiled the Blackwell GPU, poised to further disrupt AI growth.
Analysts continue to praise NVIDIA as a prime investment in the AI growth story. NVIDIA's ability to adapt to industrial revolutions, coupled with AI's potential, indicates that the company may continue its strong performance.
In 2024, NVIDIA surpassed the $2 trillion market capitalization mark, further solidifying its position among elite companies.
The key question for investors now is whether NVIDIA will maintain its outperformance and remain a top-performing stock in the future.