How did Nvidia expand nearly 20-fold in just over 20 years?

Company Growth - Nvidia has experienced a remarkable growth, with its workforce increasing nearly 20-fold since 2003, contributing to its current market capitalization of over $3 trillion and a stock price that has risen nearly 200% in the past year [4][5]. - The company has achieved back-to-back earnings beats, and analysts from Citi have identified a potential catalyst that could drive the stock price up by an additional 27% by January [4]. Employee Compensation - As of January 2024, Nvidia's median employee salary has surpassed $220,000, making it one of the highest-paying firms in Silicon Valley, exceeding Microsoft's median salary by nearly $20,000 [7]. Revenue Efficiency - Nvidia's revenue per employee has shown significant recovery after years of investment, with the revenue-to-headcount ratio doubling during the AI boom in 2023, following a steady upward trend since 2014 [8]. Workforce Diversity - Despite its growth and success, Nvidia's gender representation within its workforce and the semiconductor industry has remained relatively unchanged over the past decade [9].