When looking at the earnings release, we could see that the company has been benefitting from record Data Center adoption.

its revenue grew by 23% compared to the fourth quarter and 427% from a year ago
it is fueled by strong and accelerating demand for generative AI training and inference
Generative AI has expanded to consumer internet companies, and enterprise, sovereign AI, automotive and healthcare customers, creating multiple multibillion-dollar vertical markets

Moreover, the company decided to announce a series of rewards for investors

10 for 1 forward stock split
result in a proportionate increase in the number of shares of authorised common stock
increasing its quarterly cash dividend by 150% from $0.04 per share to $0.10 per share of common stock

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Disclaimer

The user iStock has a position in NasdaqGS:NVDA. Simply Wall St has no position in any of the companies mentioned. The author of this narrative is not affiliated with, nor authorised by Simply Wall St as a sub-authorised representative. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimates are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.