Nvidia stock holds near record levels as revenue and margins stay elevated

Nvidia (US67066G1040) remains one of the most closely watched mega-cap technology names, with its latest reported numbers still shaping expectations around revenue, profitability, and valuation. The company reported revenue of $60.9 billion in fiscal 2024, up 126% from $27.0 billion a year earlier, and net income of $29.8 billion, up from $4.4 billion in fiscal 2023.

Revenue up 126%

That fiscal 2024 revenue jump to $60.9 billion was accompanied by gross margin of 72.7%, according to Nvidia's annual filing, which shows how much pricing power the business had in that period. The same filing also showed diluted earnings per share of $11.93 for fiscal 2024, compared with $1.74 in fiscal 2023.

For investors, the scale of the improvement matters because the comparison is not small: revenue more than doubled year on year, while net income increased more than sixfold. That combination helps explain why Nvidia stock has remained one of the market's key technology bellwethers.

Margins stayed high

Nvidia's fiscal 2024 gross margin of 72.7% was paired with operating income of $32.8 billion, versus $4.2 billion in fiscal 2023, showing how quickly operating leverage expanded. The company also ended fiscal 2024 with $25.0 billion in cash and cash equivalents and $11.0 billion in total debt, giving it a strong balance-sheet cushion relative to its scale.

The latest annual numbers also set a clear benchmark for later comparisons. A business that moved from $27.0 billion in revenue to $60.9 billion in one year does not need much extra color to explain why the stock often trades as a direct proxy for AI infrastructure spending.

AI chip demand

The most representative product line is Nvidia's accelerated computing and data center hardware, which sits at the center of demand from cloud operators, model developers, and enterprise buyers. In the company's fiscal 2024 reporting, data center revenue was the main engine behind the groupwide jump, and that segment became the dominant lens through which the market judged the company.

That matters because the stock's narrative is now tied less to one device cycle and more to repeat spending on GPUs, networking, and systems. The product mix gives the company a current operating backdrop that is still directly linked to AI capex trends.

Stock level anchor

A current quote was not included in the available source set for this call, so the most reliable market anchor here is the company’s fiscal 2024 scale and profitability profile rather than a dated intraday move. Nvidia stock is therefore best read through the combination of $60.9 billion in revenue, 72.7% gross margin, and $29.8 billion in net income for fiscal 2024.

Those figures are the core reference points for the share price narrative until the next dated market print or quarterly update is used as the lead number.