Nvidia's (NASDAQ: NVDA) stock has rallied more than 600% over the past two years. Most of that rally was driven by the growth of the artificial intelligence (AI) market, which boosted its sales of data center GPUs for processing complex AI tasks.

The market's insatiable demand for its data center chips continues to outstrip its available supply, and analysts expect Nvidia's revenue to increase at a compound annual growth rate (CAGR) of 45% from fiscal 2024 to fiscal 2027 (which ends in January 2027). They expect its earnings per share (EPS) to rise at a CAGR of 51%.

Image source: Nvidia.

Continue reading

Source Fool.com