The Trump rally. The energy recovery. The resurgence of Wall Street. Think those are the year’s big financial stories?
They’re interesting, sure. But something much bigger is going on at one company most Americans have never heard of.
Shares of Nvidia (NVDA), the nation’s 314th biggest public company—and rising fast—have nearly tripled in price this year. That sort of explosive growth happens sometimes at startups that catch a megatrend, or at floundering companies left for dead that dig themselves out of a perilous hole. Nvidia—pronounced en-VID-ee-ah—is neither. It has been around since 1993, making processors that power video games. And though it struggled a few years ago, Nvidia now enjoys a surprising near monopoly on some of the most promising technologies of the future.
Nvidia’s unseen processors help power Google searches, Amazon’s Alexa digital assistant, Tesla’s self-driving cars and movie recommendations on Netflix. They’re also the brains behind breakthroughs in artificial intelligence that are wowing researchers. “It’s destiny meets serendipity,” CEO Jen-Hsun Huang tells Yahoo Finance. “People think it’s an overnight success, but like most overnight successes, it took us years.” Investors, it turns out, are piling into Nvidia because they expect it to leapfrog traditional chipmakers such as Intel (INTL) and AMD (AMD), to power the next wave of computing. We see their point, and have chosen Nvidia as the Yahoo Finance Company of the Year, joining past winners such as Facebook (FB), Under Armour (UA) and Disney (DIS).
FULL article and source here: https://www.yahoo.com/finance/news/nvidia-the-yahoo-finance-company-of-the-year-173130275.html