TLDR:
- NVIDIA stock has grown 431% over three years, making it the third most valuable company globally with occasional peaks at first place
- Q3 2024 showed 94% year-over-year revenue growth and 111% EPS increase to $0.78, driven by AI technology demand
- GPU market expected to grow from $61.58B in 2024 to $461.02B in 2032, with a 28.6% CAGR
- Q4 earnings expected to show $0.79 EPS (61.2% increase), with fiscal 2025 projecting $2.78 EPS (135.6% growth)
- Data Center revenue hit record $30.8B in Q3, with total revenue reaching $35.1B and net income growing 108.9% to $19.3B
NVIDIA, the world’s largest semiconductor company, continues to post extraordinary growth numbers as artificial intelligence adoption drives demand for its processors. The company’s stock has risen 431% over the past three years, reflecting its dominant position in the AI chip market.
In the third quarter of 2024, NVIDIA reported revenue of $35.1 billion, representing a 94% increase compared to the same period last year. The company’s earnings per share grew 111% to reach $0.78, exceeding analyst expectations by 11.4%.

The company’s Data Center segment has been particularly strong, generating record revenue of $30.8 billion, a 112% increase from the previous year. This growth comes as enterprises worldwide implement AI solutions for decision-making processes and industrial automation.
NVIDIA’s market capitalization has reached $3.4 trillion, making it the third most valuable company globally. The stock has occasionally claimed the top spot, highlighting its central role in the ongoing AI revolution.
Looking ahead to fourth-quarter results, analysts expect NVIDIA to report earnings of $0.79 per share, representing a 61.2% increase from the previous year. The company has consistently beaten Wall Street’s projections over the past four quarters.
For the full fiscal year 2025, NVIDIA is projected to achieve earnings per share of $2.78, up 135.6% from fiscal 2024. Analysts forecast continued growth in fiscal 2026, with earnings expected to rise 43.2% to $3.98 per share.
The broader GPU market, where NVIDIA maintains a leadership position, is projected to expand from $61.58 billion in 2024 to $461.02 billion by 2032, representing a compound annual growth rate of 28.6%.
NVIDIA’s CEO Jensen Huang notes that AI adoption is in “full steam” mode, with multiple growth drivers including enterprise AI implementation, industrial robotics, and national infrastructure projects.
The company is preparing to launch its new Blackwell platform, designed to handle larger data loads and faster computing requirements. Early partner feedback indicates strong demand for this next-generation technology.
Over the past 52 weeks, NVIDIA’s stock has gained 136.7%, outperforming both the S&P 500 Index’s 25% rise and the Technology Select Sector SPDR Fund’s 17.9% increase.
Despite increased research and development spending, NVIDIA achieved net income growth of 108.9% year-over-year, reaching $19.3 billion in the third quarter.
The company’s guidance for the fourth quarter suggests continued momentum, with projected revenue of $37.5 billion representing a 6.8% sequential increase.
Wall Street maintains a positive outlook on NVIDIA’s prospects. Of the 43 analysts covering the stock, 36 rate it as a “Strong Buy,” three as a “Moderate Buy,” and four as a “Hold.”
The current consensus price target stands at $176.55, suggesting potential upside of 25.4% from current levels. The stock trades at 31 times forward earnings, which many analysts consider reasonable given the company’s growth trajectory.
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