Nvidia Is Doubling Down on a Massive Opportunity
The cloud gaming market is in its early phases of growth, and Nvidia (NASDAQ: NVDA) has already moved into a dominant position in this multi-billion-dollar market that's expected to generate more than $6 billion in revenue by 2024. The company has already reported gaming revenues of $3 billion, nearly half its total revenue that was generated in the second quarter.
Nvidia's GeForce NOW cloud gaming service had more than 12 million members at the end of Sept. This is impressive considering that the number of paying cloud gaming subscribers is expected to hit 24 million by the end of the year. So, Nvidia could finish 2021 with more than 50% of the cloud gaming market under its control. Nvidia's latest move indicates that it is going all out to capture a bigger share of the cloud gaming opportunity with the launch of its latest service. Let's see why.
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Source Fool.com
