Nvidia has been expanding its company beyond gaming and pioneering technologies that are enhancing growth. But that was still up 37% from the previous year. Only the automotive segment fell short, down 1% from the previous quarter, with revenue of $152 million. Quarter over quarter, Nvidia saw revenue increases in the majority of its segments, including gaming, data centers and professional visualization. The company posted revenue of $6.5 billion for the quarter, up 68% from the previous year and up 15% from the prior quarter. Nvidia's expansion into new businesses, including artificial intelligence and data centers, is exactly what has driven the company to record revenue in the company's fiscal second quarter, which ended Aug. Year to date, the stock is up more than 50% after adjusting for the split. While stock splits are not material for the stock's performance and do not change the value of the stock, this event tends to make the stock more attractive to investors. Nvidia announced the 4-for-1 split that started trading July 20.

In fact, the company's expansion beyond gaming chips and into new technologies such as artificial intelligence, virtual desktops, machine learning and much more has powered Nvidia to new heights.

In no way was Nvidia a bust just because one niche group of customers no longer had use for its products. However, since mid-2019, NVDA stock hasn't stopped climbing, from about $140 in June 2019 to more than $750 in July 2021 before a 4-for-1 stock split.

When the Bitcoin market collapsed, so too did demand for the company's cards, leading to a sharp decline in sales. The company was the victim of its own success, as Bitcoin speculators had spent the previous few months buying Nvidia's high-performance gaming graphics cards to help mine the cryptocurrency. In late 2018, Nvidia shares crashed after third-quarter earnings disappointed investors and management lowered guidance below expectations for the fourth quarter.

The bottom line: Should you buy Nvidia stock?

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