“We swept the industry AI inference benchmark, and our customers are moving some of the world’s most popular AI services into production, powered by NVIDIA technology.”

Nvidia RTX has made ray tracing the new standard in gaming… Our A100 compute platform is ramping fast, with the top cloud companies deploying it globally,” chief executive Jensen Huang said in prepared remarks. “The new Nvidia GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVDA posted blowout third quarter results in November, with data center sales up 162% to help lift its overall revenue by 57%. Yet, Wall Street and investors seem most pleased with Nvidia’s expansion into and growth within data centers and cloud computing. The GPU powerhouse has also gained traction within the cryptocurrency mining space in recent years. For example, NVDA’s gaming unit sales climbed 37% in Q3 to account for roughly 50% of the company’s total revenue.

Nvidia is set to benefit from its continued importance within the global video gaming industry that’s projected to expand from $160 billion in 2020 to over $200 billion by 2023. The GPU giant has also been on a tear in 2020 and a recent cool down might set up a better buying opportunity for NVDA as we head into 2021. Nvidia ( NVDA Quick Quote NVDA - Free Report) shares have been on a blazing run for the better part of five years to help it crush the tech sector, its semiconductor industry, and many other high-flyers.

Nvda stock prediction 2021