Boasting a remarkable series of new all-time highs, the company has solidified its position as one of the year’s top-performing large-cap stocks. As AI technologies continue to captivate markets, Nvidia’s unprecedented rise stands as a testament to its pivotal role in shaping the future.
Even though Nvidia’s ascent in 2023 has been nothing short of impressive, the stock’s journey from its initial public offering (IPO) is even more striking.
Since going public in 1999, shares of the AI chip giant surged by an astounding 212,000%. Nvidia’s shares debuted more than 24 years ago at just $12 apiece, and now, the stock trades at over $492 after printing another record high on Wednesday, August 30.
This means that if one invested $10,000 in NVDA at its IPO, this investment would today be worth a whopping $19.5 million, according to calculations disclosed by stock trader Gurgavin.
During this awe-inspiring ride of over 2 decades, NVDA dropped more than 50% 12 times and plummeted 90% twice, Gurgavin added.
Nvidia stock price analysis
At the time of publication on August 31, shares of Nvidia were standing at a new historical high of $492.64, after climbing an additional 1% on Wednesday.
Over the past week, the chipmaker’s shares rallied by more than 7.4% and over 5.3% on the month.
Year-to-date, NVDA’s price more than tripled, soaring by about 230% since January 1.
Funds miss on NVDA’s remarkable 2023 ascent
Although it is widely known that Nvidia is a robust, well-established industry leader and one of the best-performing stocks in recent years, a surprising number of experienced fund managers missed out on NVDA’s 2023 rally because they believed it was an overvalued stock.
Among funds that held below-average weight in the AI company, 85% underperformed the index in 2023, data revealed.
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