Nvidia (NVDA) Stock Inflation-Adjusted

NVIDIA Corporation (NVDA) is a global leader in artificial intelligence (AI) and accelerated computing. The company's graphics processing units (GPUs) are the fundamental engine powering AI data centers, professional visualization and high-end PC gaming.

This page measures the true performance of NVIDIA stock by adjusting its historical price for inflation using the US Consumer Price Index. The charts and data below let you compare the nominal price against its real value, revealing a clearer picture of NVIDIA's long-term growth.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use June 2025 as the baseline (latest available CPI).

The current value of Nvidia stock is 170.7 (as of the close of Jul 15, 2025), which is the all-time high.

Since January 22, 1999, the inflation-adjusted total return for the stock has been 226,989%, which is equivalent to an annual growth rate of 33.89%.

In nominal values, the total return since this date has been 445,730%, or an annualized rate of 37.35%.

Inflation-Adjusted Values by Month

This data presents Nvidia's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date Inflation-Adjusted Nominal value
Jul 2025 170.7 170.7
Jun 2025 157.99 157.99
May 2025 135.58 135.12
Apr 2025 109.51 108.91
Mar 2025 109.31 108.37
Feb 2025 126.26 124.9
Jan 2025 121.9 120.05
Dec 2024 137.23 134.27
Nov 2024 141.31 138.22
Oct 2024 135.63 132.73
Sep 2024 124.21 121.41
Aug 2024 122.28 119.33
Jul 2024 119.97 116.98
Jun 2024 126.8 123.5
May 2024 112.55 109.59
Apr 2024 88.85 86.37
Mar 2024 93.28 90.32
Feb 2024 82.19 79.08
Jan 2024 64.32 61.5
Dec 2023 52.05 49.5
Nov 2023 49.11 46.74
Oct 2023 42.73 40.76
Sep 2023 45.56 43.48
Aug 2023 51.82 49.32
Jul 2023 49.28 46.7
Jun 2023 44.69 42.28
May 2023 40.1 37.81
Apr 2023 29.48 27.73
Mar 2023 29.66 27.76
Feb 2023 24.87 23.2
Jan 2023 21.05 19.52
Dec 2022 15.87 14.6
Nov 2022 18.32 16.91
Oct 2022 14.59 13.48
Sep 2022 13.18 12.13
Aug 2022 16.42 15.07
Jul 2022 19.75 18.14
Jun 2022 16.48 15.14
May 2022 20.57 18.64
Apr 2022 20.66 18.52
Mar 2022 30.56 27.24
Feb 2022 27.67 24.34
Jan 2022 28.04 24.44
Dec 2021 33.97 29.36
Nov 2021 37.85 32.61
Oct 2021 29.76 25.52
Sep 2021 24.31 20.68
Aug 2021 26.34 22.34
Jul 2021 22.99 19.46
Jun 2021 23.7 19.96
May 2021 19.42 16.21
Apr 2021 18.09 14.97
Mar 2021 16.22 13.32
Feb 2021 16.77 13.68
Jan 2021 15.97 12.95
Dec 2020 16.12 13.02
Nov 2020 16.56 13.36
Oct 2020 15.48 12.5
Sep 2020 16.72 13.49
Aug 2020 16.54 13.33
Jul 2020 13.17 10.58
Jun 2020 11.84 9.47
May 2020 11.12 8.84
Apr 2020 9.16 7.28
Mar 2020 8.2 6.57
Feb 2020 8.39 6.73
Jan 2020 7.36 5.89
Dec 2019 7.35 5.86
Nov 2019 6.77 5.4
Oct 2019 6.27 5
Sep 2019 5.44 4.33
Aug 2019 5.24 4.17
Jul 2019 5.27 4.19
Jun 2019 5.14 4.08
May 2019 4.24 3.37
Apr 2019 5.67 4.49
Mar 2019 5.66 4.46
Feb 2019 4.89 3.83
Jan 2019 4.57 3.56
Dec 2018 4.25 3.31
Nov 2018 5.19 4.05
Oct 2018 6.66 5.22
Sep 2018 8.89 6.96
Aug 2018 8.89 6.95
Jul 2018 7.76 6.06
Jun 2018 7.51 5.86
May 2018 8 6.24
Apr 2018 7.16 5.56
Mar 2018 7.41 5.73
Feb 2018 7.76 5.99
Jan 2018 7.91 6.08
Dec 2017 6.26 4.78
Nov 2017 6.49 4.96
Oct 2017 6.68 5.11
Sep 2017 5.77 4.42
Aug 2017 5.5 4.19
Jul 2017 5.29 4.01
Jun 2017 4.7 3.57
May 2017 4.7 3.56
Apr 2017 3.39 2.57
Mar 2017 3.55 2.69
Feb 2017 3.31 2.5
Jan 2017 3.57 2.69
Dec 2016 3.51 2.63
Nov 2016 3.03 2.27
Oct 2016 2.34 1.75
Sep 2016 2.25 1.69
Aug 2016 2.02 1.51
Jul 2016 1.88 1.4
Jun 2016 1.54 1.15
May 2016 1.54 1.15
Apr 2016 1.17 0.87
Mar 2016 1.18 0.87
Feb 2016 1.04 0.77
Jan 2016 0.97 0.71
Dec 2015 1.1 0.8
Nov 2015 1.05 0.77
Oct 2015 0.94 0.69
Sep 2015 0.81 0.6
Aug 2015 0.74 0.55
Jul 2015 0.65 0.48
Jun 2015 0.66 0.49
May 2015 0.73 0.54
Apr 2015 0.73 0.53
Mar 2015 0.69 0.5
Feb 2015 0.73 0.53
Jan 2015 0.64 0.46
Dec 2014 0.66 0.48
Nov 2014 0.69 0.5
Oct 2014 0.63 0.47
Sep 2014 0.6 0.44
Aug 2014 0.63 0.46
Jul 2014 0.56 0.42
Jun 2014 0.6 0.44
May 2014 0.61 0.45
Apr 2014 0.6 0.44
Mar 2014 0.58 0.42
Feb 2014 0.6 0.44
Jan 2014 0.51 0.37
Dec 2013 0.52 0.38
Nov 2013 0.51 0.37
Oct 2013 0.49 0.36
Sep 2013 0.5 0.36
Aug 2013 0.48 0.35
Jul 2013 0.47 0.34
Jun 2013 0.45 0.33
May 2013 0.47 0.34
Apr 2013 0.45 0.32
Mar 2013 0.41 0.3
Feb 2013 0.41 0.3
Jan 2013 0.4 0.29
Dec 2012 0.4 0.29
Nov 2012 0.39 0.28
Oct 2012 0.39 0.28
Sep 2012 0.43 0.31
Aug 2012 0.46 0.33
Jul 2012 0.44 0.32
Jun 2012 0.45 0.32
May 2012 0.41 0.29
Apr 2012 0.43 0.3
Mar 2012 0.51 0.36
Feb 2012 0.5 0.35
Jan 2012 0.49 0.34
Dec 2011 0.46 0.32
Nov 2011 0.52 0.36
Oct 2011 0.49 0.35
Sep 2011 0.42 0.29
Aug 2011 0.44 0.31
Jul 2011 0.46 0.32
Jun 2011 0.53 0.37
May 2011 0.67 0.47
Apr 2011 0.67 0.47
Mar 2011 0.62 0.43
Feb 2011 0.77 0.53
Jan 2011 0.82 0.56
Dec 2010 0.53 0.36
Nov 2010 0.47 0.32
Oct 2010 0.41 0.28
Sep 2010 0.4 0.27
Aug 2010 0.32 0.22
Jul 2010 0.32 0.21
Jun 2010 0.35 0.24
May 2010 0.45 0.31
Apr 2010 0.54 0.37
Mar 2010 0.6 0.41
Feb 2010 0.56 0.38
Jan 2010 0.53 0.36
Dec 2009 0.65 0.44
Nov 2009 0.45 0.3
Oct 2009 0.42 0.28
Sep 2009 0.52 0.35
Aug 2009 0.51 0.34
Jul 2009 0.45 0.3
Jun 2009 0.39 0.26
May 2009 0.37 0.24
Apr 2009 0.41 0.27
Mar 2009 0.35 0.23
Feb 2009 0.29 0.19
Jan 2009 0.28 0.19
Dec 2008 0.29 0.19
Nov 2008 0.26 0.17
Oct 2008 0.3 0.2
Sep 2008 0.37 0.25
Aug 2008 0.43 0.29
Jul 2008 0.39 0.27
Jun 2008 0.64 0.44
May 2008 0.86 0.58
Apr 2008 0.72 0.48
Mar 2008 0.7 0.46
Feb 2008 0.76 0.5
Jan 2008 0.88 0.57
Dec 2007 1.22 0.79
Nov 2007 1.13 0.74
Oct 2007 1.27 0.83
Sep 2007 1.31 0.85
Aug 2007 1.23 0.8
Jul 2007 1.1 0.71
Jun 2007 1 0.64
May 2007 0.84 0.54
Apr 2007 0.8 0.51
Mar 2007 0.7 0.45
Feb 2007 0.76 0.48
Jan 2007 0.76 0.48
Dec 2006 0.92 0.58
Nov 2006 0.92 0.58
Oct 2006 0.87 0.54
Sep 2006 0.73 0.46
Aug 2006 0.72 0.45
Jul 2006 0.55 0.34
Jun 2006 0.53 0.33
May 2006 0.57 0.36
Apr 2006 0.73 0.45
Mar 2006 0.72 0.45
Feb 2006 0.6 0.37
Jan 2006 0.57 0.35
Dec 2005 0.47 0.28
Nov 2005 0.46 0.28
Oct 2005 0.42 0.26
Sep 2005 0.43 0.27
Aug 2005 0.39 0.24
Jul 2005 0.35 0.21
Jun 2005 0.34 0.21
May 2005 0.35 0.21
Apr 2005 0.28 0.17
Mar 2005 0.31 0.18
Feb 2005 0.38 0.23
Jan 2005 0.3 0.18
Dec 2004 0.31 0.18
Nov 2004 0.25 0.15
Oct 2004 0.19 0.11
Sep 2004 0.19 0.11
Aug 2004 0.16 0.097
Jul 2004 0.2 0.12
Jun 2004 0.27 0.16
May 2004 0.31 0.18
Apr 2004 0.27 0.16
Mar 2004 0.35 0.21
Feb 2004 0.3 0.17
Jan 2004 0.3 0.17
Dec 2003 0.32 0.18
Nov 2003 0.29 0.17
Oct 2003 0.24 0.14
Sep 2003 0.22 0.12
Aug 2003 0.25 0.14
Jul 2003 0.26 0.15
Jun 2003 0.31 0.18
May 2003 0.36 0.2
Apr 2003 0.2 0.11
Mar 2003 0.18 0.1
Feb 2003 0.17 0.098
Jan 2003 0.14 0.08
Dec 2002 0.16 0.09
Nov 2002 0.24 0.13
Oct 2002 0.16 0.093
Sep 2002 0.12 0.067
Aug 2002 0.14 0.079
Jul 2002 0.15 0.086
Jun 2002 0.24 0.13
May 2002 0.47 0.26
Apr 2002 0.49 0.27
Mar 2002 0.62 0.35
Feb 2002 0.72 0.4
Jan 2002 0.93 0.51
Dec 2001 0.95 0.52
Nov 2001 0.77 0.43
Oct 2001 0.61 0.33
Sep 2001 0.39 0.21
Aug 2001 0.6 0.33
Jul 2001 0.57 0.31
Jun 2001 0.65 0.36
May 2001 0.6 0.33
Apr 2001 0.59 0.32
Mar 2001 0.46 0.25
Feb 2001 0.32 0.17
Jan 2001 0.37 0.2
Dec 2000 0.24 0.13
Nov 2000 0.29 0.16
Oct 2000 0.45 0.24
Sep 2000 0.59 0.32
Aug 2000 0.58 0.31
Jul 2000 0.44 0.23
Jun 2000 0.46 0.25
May 2000 0.42 0.22
Apr 2000 0.33 0.17
Mar 2000 0.31 0.16
Feb 2000 0.24 0.12
Jan 2000 0.14 0.072
Dec 1999 0.17 0.091
Nov 1999 0.13 0.067
Oct 1999 0.083 0.043
Sep 1999 0.072 0.037
Aug 1999 0.11 0.055
Jul 1999 0.076 0.039
Jun 1999 0.072 0.037
May 1999 0.064 0.033
Apr 1999 0.069 0.035
Mar 1999 0.08 0.041
Feb 1999 0.084 0.043
Jan 1999 0.073 0.037

Returns from Investing in Nvidia stock

How much did an investment in Nvidia really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for Nvidia stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2004.

Year Inflation-Adjusted Return Nominal Return
2024 163.64% 171.25%
2023 228.02% 239.02%
2022 -53.28% -50.26%
2021 110.66% 125.48%
2020 119.31% 122.3%
2019 72.99% 76.94%
2018 -32.11% -30.82%
2017 78.23% 81.99%
2016 220.31% 226.95%
2015 65.89% 67.1%
2014 26.43% 27.39%
2013 30.08% 32.03%
2012 -13.06% -11.54%
2011 -12.59% -10%
2010 -18.77% -17.56%
2009 125.34% 131.47%
2008 -76.3% -76.28%
2007 32.48% 37.88%
2006 97.44% 102.46%
2005 50.05% 55.18%
2004 -1.65% 1.55%
2003 97.84% 101.56%
2002 -83.19% -82.8%
2001 302.12% 308.36%
2000 35.04% 39.61%

Nvidia Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for Nvidia over various trailing periods ending June 30, 2025, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 24.6% 27.93%
Last 3 years 112.44% 118.54%
Last 5 years 67.89% 75.59%
Last 10 years 73% 78.29%
Last 20 years 35.85% 39.33%

Real Returns of Investing in the Nvidia

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in June 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Nvidia five years ago yielded an 2,249% nominal gain, but the real return (the actual increase in buying power) was 1,784%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2020 - Jun 2025 $2,348.77 2,249% 1,784%
Last 10 years Feb 2015 - Jun 2025 $29,725.93 29,626% 21,531%
Last 25 years Feb 2000 - Jun 2025 $126,935.02 126,835% 66,720%

How Inflation Affects Nvidia

As a fabless semiconductor company at the forefront of AI and gaming, Nvidia faces several impacts from inflation.

  • Manufacturing Costs: Although Nvidia designs its chips, it relies on foundries like TSMC for manufacturing. Inflation can increase the wafer and packaging costs charged by these partners.
  • Research & Development: The company invests heavily in R&D to stay at the cutting edge. Wage inflation for highly specialized engineers can drive up these crucial expenses.
  • Supply Chain: The global electronics supply chain is complex, and inflation can increase the cost of various components and logistics, impacting the final price of its products.
  • Consumer and Enterprise Demand: Inflation can squeeze budgets for both consumers (gaming GPUs) and businesses (data center GPUs), potentially slowing demand for high-end products.

Nvidia's strong market position in high-demand sectors like AI and data centers gives it significant pricing power, allowing it to pass on some increased costs. Its high-margin business model also provides a cushion to absorb inflationary pressures while continuing to fund innovation.

About Nvidia

NVIDIA Corporation, led by co-founder and CEO Jensen Huang, is a technology company known for designing and manufacturing graphics processing units (GPUs), application programming interfaces (APIs) for data science and high-performance computing as well as system on a chip units (SoCs).

The company is a dominant force in the markets for high-end PC gaming, professional visualization, data centers and automotive infotainment. It has become a key enabler of the artificial intelligence revolution.

Headquartered in Santa Clara, California, NVIDIA's stock (NVDA) has become one of the most prominent in the technology sector and a key member of the S&P 500 and Nasdaq-100 indices.

Last Close
Jul 15, 2025
170.7
Highest
Jul 15, 2025
170.7
Highest, Inflation-Adjusted
Jul 15, 2025
170.7
Annualized return
Since Jan 22, 1999
37.35%
Annualized return, Inflation-Adjusted
Since Jan 22, 1999
33.89%

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Other Inflation-Adjusted Data