Nvidia’s rise since the debut of ChatGPT in November 2022 has been stunning.
Shares of the chipmaker—known mostly for gaming hardware prior to the AI boom—embarked on a dizzying rally since AI burst into public consciousness and sparked a frenzy for the tech among Wall Street investors.
The stock has risen more than eightfold over that timeframe, and on Wednesday, the company became the first ever to hit a $4 trillion market capitalization.
Here are three charts that document the chipmaker’s dominance over the last three years.
1. Outperforming the market
Nvidia has beaten the broader market in recent years, and it’s not even close.
Shares of the chipmaker are up 871% since November 30, 2022, the day ChatGPT made its debut.
The benchmark index, by comparison, is up 54% over that timeframe.
2. Beating the competition
Nvidia’s gains also far outstrip those of its fellow US chipmakers. The company’s GPUs have become the premier piece of hardware powering large language models, and all of the biggest “hyperscalers”—companies with big AI ambitions like Meta and Microsoft—are its top customers.
Meanwhile, semiconductor peers Advanced Micro Devices and Intel have been largely left behind in the AI race.
While Nvidia is up almost 900% since November 2022, AMD is up 77%, and Intel is down almost 25% since then.
3. Soaring revenue
Nvidia’s revenue exploded in the years after OpenAI made ChatGPT available to the public.
Revenue has climbed steadily higher every quarter for the last two years, and the growth has been heavily concentrated in its data center unit.
The company pulled in $44.1 billion in revenue in the first quarter of this year, up 69% compared to the same quarter of 2024. Of that amount, $39.1 billion came from its data center business, which saw revenue grow 73% year-over-year.
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