Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

NVIDIA appoints former astronaut Ellen Ochoa to board

Published 11/08/2024, 05:40 AM
© Reuters
NVDA
-

SANTA CLARA, Calif. - NVIDIA Corporation (NASDAQ: NASDAQ:NVDA), a leader in accelerated computing, announced today the appointment of Ellen Ochoa, the first Latina astronaut and former director of NASA's Johnson Space Center, to its board of directors.

Ochoa, 66, brings a wealth of experience to NVIDIA's board, with an educational background in physics and electrical engineering and a notable history of leadership in the space industry. Her appointment increases the board's size to 13 members.

Jensen Huang, the CEO of NVIDIA, expressed enthusiasm about Ochoa's addition to the board, highlighting her pioneering career and leadership skills. Ochoa's academic credentials include a B.S. in physics from San Diego State University, along with an M.S. and a Ph.D. in electrical engineering from Stanford University.

Beyond her new role at NVIDIA, Ochoa is actively involved in other corporate boards. She chairs the compensation committee and serves on the investment committee for Service Corporation International (NYSE:SCI). Additionally, she is a member of the nominating committee and the product and marketing committee at Mutual of America Financial Group.

The appointment of Ochoa is part of NVIDIA's ongoing efforts to strengthen its board's expertise as the company continues to innovate in computing and AI technology.

This announcement is based on a press release statement from NVIDIA Corporation. The company, recognized globally for its advancements in computing, did not disclose further details regarding Ochoa's specific contributions or the strategic direction following her appointment.

In other recent news, Arm Holdings (NASDAQ:ARM)' revenue forecasts met Wall Street expectations, with the chip designer predicting third-quarter earnings per share between 32 to 36 cents. Bob O'Donnell from TECHnalysis Research provided analysis on the situation. Meanwhile, Perplexity, an artificial intelligence startup, is seeking $500 million in funding, potentially raising its valuation to $9 billion. This move follows a lawsuit filed against the company by News Corp-owned publishers and a cease and desist notice from The New York Times (NYSE:NYT).

In the AI chip market, Nvidia and Taiwan Semiconductor Manufacturing Company (TSMC) saw increases in market value due to rising demand. The chief investment officer at UBS Global Wealth Management expressed a bullish stance on AI technology. On the legal front, Meta Platforms Inc (NASDAQ:META).'s Facebook and Nvidia Corp . are requesting the U.S. Supreme Court to dismiss federal securities fraud lawsuits. Both companies are facing class action lawsuits related to alleged violations of federal regulations.

Lastly, Reliance Jio, led by Asia's richest man Mukesh Ambani, is planning for an IPO in 2025, with analysts valuing the company at over $100 billion. The telecom business has established collaborations with tech giants like Google (NASDAQ:GOOGL), Meta, and Nvidia. These recent developments highlight the dynamic landscape of the tech industry.

InvestingPro Insights

NVIDIA's appointment of Ellen Ochoa to its board of directors comes at a time when the company is experiencing remarkable growth and financial performance. According to InvestingPro data, NVIDIA boasts a substantial market capitalization of $3.65 trillion, reflecting its dominant position in the semiconductor industry.

The company's financial metrics are equally impressive. NVIDIA's revenue for the last twelve months as of Q2 2025 stood at $96.31 billion, with a staggering revenue growth of 194.69% over the same period. This exceptional growth is further underscored by the company's robust gross profit margin of 75.98%, indicating strong pricing power and operational efficiency.

InvestingPro Tips highlight NVIDIA's strength in several areas. The company has maintained dividend payments for 13 consecutive years, demonstrating a commitment to shareholder returns. Additionally, NVIDIA operates with a moderate level of debt and has liquid assets exceeding short-term obligations, suggesting a solid financial foundation.

The appointment of Ochoa, with her extensive experience in physics and electrical engineering, aligns well with NVIDIA's focus on innovation in computing and AI technology. This strategic move could potentially contribute to the company's continued growth and technological advancements.

For investors seeking more comprehensive analysis, InvestingPro offers 24 additional tips for NVIDIA, providing deeper insights into the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.