NVIDIA replaced ENRON on the S&P 500 in 2001

From the Los Angeles Times, November 30, 2001:

“Enron, which had been a component of the S&P; 500, was removed at the end of trading Thursday and replaced by Nvidia Corp., a Santa Clara, Calif.-based maker of computer-graphics chips. As index funds sold Enron and bought Nvidia, Nvidia jumped $2.25 to $53.61 on Nasdaq.”

Blowout quarter and bullish outlook

Nvidia’s fiscal third-quarter revenue climbed to $57 billion, up 62% year over year and 22% from the second quarter. That marks an acceleration from 56% revenue growth in the prior quarter.

Data center revenue reached $51.2 billion, up 66% year over year and 25% sequentially, as demand for Blackwell-based systems stayed extremely strong. Management also guided for roughly $65 billion of fourth-quarter revenue, implying mid-teens sequential growth.

Nvidia trades at about 46 times earnings — a steep premium to the broader market.