(FT)
- Nvidia’s explosive growth: Company with nearly $200bn annual revenue achieved over 60% growth, defying norms for large firms.
- Record earnings beat: Latest quarter exceeded analyst estimates for sales and profit, with full sell-out of current chips and orders piling up.
- Massive revenue surge: $73bn growth in past four quarters surpasses entire yearly revenue of Morgan Stanley or IBM.
- Unprecedented scale: Nvidia’s current growth pace at $4.5tn market cap dwarfs Google’s similar rate when it had $150bn valuation.
- Monopoly advantages: 90% market share in AI chips yields 73% gross margins and strong pricing power, unlikely to face antitrust challenges.
- Future revenue variability: Projections range from $4.6tn to $2.4tn by 2030, depending on AI investment estimates and potential market share erosion.
- AI boom exposure: Nvidia’s dominance makes it highly vulnerable to shifts in demand or competition, unlike diversified rivals like Microsoft or Google.