Predicting where any company will be 5 years in the future isn't an easy task. A decade ago, there were no companies with $1 trillion market caps -- the largest came in at around $500 billion. Now, there are six companies with 13-digit valuations in the U.S.
Predicting a company's future becomes even more difficult when it's involved with an explosive trend such as artificial intelligence (AI). While there may be a risk of a bubble forming, significant business results disprove that view. Nvidia (NASDAQ: NVDA) is at the forefront of this discussion, as its products are critical in this area. However, the company saw a dramatic rise in its stock price, and there's now a lot of optimism baked into it.
So where will Nvidia be in a decade?
Nvidia's revenue skyrocketed in the past year
Nvidia's GPUs (graphics processing units) are the best-in-class hardware for supporting AI workloads. GPUs were originally made to provide the fast processing required by video game graphics, but their ability to efficiently handle intense calculations made them popular for running other workloads like drug discovery, engineering simulations, cryptocurrency mining, and now, AI model creation.
Interest in AI grew rapidly in the past year and a half as businesses and consumers became intrigued by generative AI, and rising demand meant a need for supercomputers and server installations capable of processing these workloads. Fortunately for companies like Nvidia, these supercomputers must feature thousands of GPUs. Given that Nvidia's flagship H100 GPUs are rumored to cost around $30,000 apiece, that market is a significant revenue stream for it.
This new demand caused Nvidia's revenue to skyrocket over the past few quarters.
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