- NVIDIA has reported revenue reached $13.51 billion, marking a significant 101% increase compared to the same period last year and an 88% increase from the previous quarter. During the second quarter of fiscal 2024, NVIDIA repurchased 7.5 million shares for $3.28 billion, returning a total of $3.38 billion to shareholders. The company has $3.95 billion remaining under its share repurchase authorization and recently approved an additional $25.00 billion in share repurchases without expiration.
- Furthermore, NVIDIA is set to pay a quarterly cash dividend of $0.04 per share on September 28, 2023, to shareholders of record as of September 7, 2023. This underscores NVIDIA's robust performance and strategic steps in fortifying its position in the AI landscape, as the quarter saw substantial developments in NVIDIA's infrastructure and partnerships, particularly in the realm of generative AI.
Why it matters
Nvidia has witnessed a substantial increase in its valuation over the past year due to heightened investor enthusiasm around AI. Benefiting from a surge exceeding 300% in Nvidia's share price, its market capitalization has undergone a significant transformation, soaring from under $300 billion to almost $1.2 trillion in a span of 10 months.
