Analyzing Cost of Revenue: NVIDIA vs. Shopify

In the ever-evolving tech landscape, understanding the cost of revenue is crucial for evaluating a company's financial health. Over the past decade, NVIDIA Corporation and Shopify Inc. have shown distinct trajectories in their cost structures. From 2014 to 2023, NVIDIA's cost of revenue surged by approximately 792%, reflecting its aggressive expansion and innovation in the semiconductor industry. In contrast, Shopify's cost of revenue increased by nearly 8,100% during the same period, highlighting its rapid growth in the e-commerce sector.

Key Insights

• NVIDIA's Growth: By 2023, NVIDIA's cost of revenue reached $11.6 billion, a testament to its dominance in the GPU market.
• Shopify's Expansion: Shopify's cost of revenue peaked at $3.5 billion in 2023, underscoring its pivotal role in empowering online businesses.

While NVIDIA's data for 2024 is available, Shopify's is not, indicating potential data gaps or reporting delays.