Nvidia's data center business ended fiscal 2022 on a $13 billion revenue pace, up from just $5 billion two years prior. Emerging technologies like autonomous vehicles, digital-world creation, and edge computing require computing power on site and in data centers to support the immense loads of information generated. Research firm McKinsey estimates that the global market for semiconductors could grow from $600 billion to $1 trillion by 2030.ĪI could play a big part in this demand. The long-term need for semiconductors figures to rise dramatically over time.

You don't need to worry about the short-term ups and downs of the industry you can focus on the big picture. But this is where having a long-term time horizon can be an investor's superpower. It's possible that a recession does come, and Nvidia's growth will slow. It could provide a good look at how management expects the business to perform in the fall if the economy does slow down in the coming months. The fiscal 2023 first quarter ended May 1, so the second quarter will cover May through July investors will want to pay close attention to management's guidance for the next quarter. Nvidia guided for solid fiscal 2023 second-quarter performance, calling for $8.1 billion in revenue, a 24% year-over-year increase.

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