Prediction: This AI Giant Could Become the World’s First $10 Trillion Company
Nvidia could become the world’s first $10 trillion company by 2029, driven by massive AI growth and soaring global data center spending. Here’s why analysts believe it will outpace Apple, Microsoft and Alphabet.
Nvidia is positioned to lead Big Tech toward the world’s first-ever $10 trillion market valuation as AI spending explodes globally.
Nvidia is already the only company to have crossed the $5 trillion valuation mark, and with Big Tech heavyweights like Apple, Microsoft and Alphabet hovering near $4 trillion, the race for the first-ever $10 trillion company is heating up. But according to market analysts, Nvidia remains the most likely candidate to reach the milestone — and possibly much sooner than expected.
Why Nvidia Leads the $10 Trillion Race
While lofty valuations may temporarily push a company’s market cap higher, sustainable long-term growth is the real driver behind a $10 trillion valuation. And on that front, Nvidia stands alone.
The chipmaker continues to deliver staggering revenue growth, far outpacing Microsoft and Alphabet. Analysts expect Nvidia to maintain high double-digit growth for years as global demand for AI accelerates.
AI Boom and Massive Data Center Spending
Nvidia CEO Jensen Huang has projected that global data centre capital expenditures could jump from $600 billion in 2025 to $3–4 trillion by 2030. This aligns with AMD’s forecast of a $1 trillion compute market by 2030 — indicating that both companies expect explosive expansion in AI infrastructure.
Nvidia also revealed that its cloud GPUs were “sold out” in Q3, with customers placing orders years in advance. This suggests continued, long-term hyperscaler spending — a key catalyst for Nvidia’s growth.
How Nvidia Could Reach a $10 Trillion Valuation
If global data center spending does hit $3 trillion in 2030, Nvidia could generate up to $1 trillion in revenue. With its current ~50% profit margins and a valuation of 25x earnings, the company’s market cap could surpass $12 trillion.
This means Nvidia could cross the $10 trillion valuation as early as 2029, provided AI capital expenditure continues its rapid scale-up.
The Risk Factor
Nearly all of Nvidia’s revenue—$51.2 billion of $57 billion in Q3—comes from data center hardware. Any slowdown in AI spending or pressure from shareholders demanding quicker returns could impact growth.
But for now, the AI wave remains strong, and Nvidia is riding it better than anyone else in the industry.
