section_path: Corporate affairs/Finances
section_name: Finances
paragraph_text: Finances
  
  For the fiscal year 2020, Nvidia reported earnings of US$2.796 billion, with an annual revenue of US$10.918 billion, a decline of 6.8% over the previous fiscal cycle. Nvidia's shares traded at over $531 per share, and its market capitalization was valued at over US$328.7 billion in January 2021. As of late Q3 2024, Nvidia's market cap is around US$2.98 trillion.
  
  For the Q2 of 2020, Nvidia reported sales of $3.87 billion, which was a 50% rise from the same period in 2019. The surge in sales and people's higher demand for computer technology. According to the financial chief of the company, Colette Kress, the effects of the pandemic will "likely reflect this evolution in enterprise workforce trends with a greater focus on technologies, such as Nvidia laptops and virtual workstations, that enable remote work and virtual collaboration." In May 2023, Nvidia crossed $1 trillion in market valuation during trading hours, and grew to $1.2 trillion by the following November. For its strength, size and market capitalization, Nvidia has been selected to be one of Bloomberg's " Magnificent Seven ", the seven biggest companies on the stock market in these regards.