It turns out the sky isn't falling after all. Nvidia has delivered two successive quarters of high-double-digit revenue growth, as demand for AI remains robust. Indeed, the stock is within striking distance of a new all-time high after notching gains of 50% over the past two months.

In 2024, Nvidia’s revenue soared to $130.5 billion, with AI-driven data center sales accounting for nearly 80% of its growth, reflecting a 93% year-over-year increase. Its CUDA software ecosystem further cements its dominance, creating a high barrier to entry for competitors like AMD or Intel.

By Saeed Azhar, Kanchana Chakravarty and Sukriti Gupta NEW YORK (Reuters) -U.S. stock indexes closed higher on Tuesday, helped by gains in Nvidia and other chipmakers, as investors awaited possible negotiations between the United States and its trading partners for more clarity on Washington's tariff plans.