Will Nvidia Reach $4 Trillion? 3 Reasons It Could Happen by the End of the Year.


Nvidia (NASDAQ: NVDA) did it again.

The AI chip superstar delivered another round of smashing results, easily beating estimates in its third-quarter earnings report on Nov. 20.

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Revenue jumped 94% in the quarter to $35.1 billion, which topped the consensus at $33.1 billion, and adjusted earnings per share (EPS) more than doubled from $0.40 to $0.81, ahead of estimates at $0.75.

Shares pulled back slightly on the news as investors have gotten accustomed to the chip titan regularly besting expectations, and some analysts wanted to see stronger fourth-quarter guidance, which called for $37.5 billion in revenue — a 70% increase from the quarter a year ago.

At the time of this writing, Nvidia is now worth $3.5 trillion. It’s the most valuable company in the world, but it’s only natural to wonder if it will be the first to make it to the $4 trillion milestone. That seems likely, and it could happen sooner than you think.

$100 bills being printed
Image source: Getty Images.

Nvidia has been reporting eye-popping revenue growth since the launch of ChatGPT. In fact, this was the first time in six quarters that the company failed to deliver triple-digit sales growth, though you’re not going to hear any complaints about a 94% jump on the top line.

Even as Nvidia’s growth naturally moderates, the amount of revenue it’s adding each quarter is still expanding, showing that the business is still accelerating. But what’s even more impressive is that its third-quarter revenue increase doesn’t reflect the underlying demand for its product. That continues to outstrip supply, which is constrained by Taiwan Semiconductor Manufacturing‘s ability to produce its chips.

On the third-quarter earnings call, chief financial officer Colette Kress described demand for the new Blackwell platform as “staggering” and demand for the legacy Hopper platform as “exceptional.”

Speaking about the Blackwell platform, she added, “We are racing to scale supply to meet the incredible demand customers are placing on us,” and she forecast that Blackwell demand would exceed supply for several quarters in fiscal 2026.

It’s impossible to quantify the company’s demand, but its quarterly revenue should be seen as a baseline for its potential revenue rather than an accurate reflection of demand for its products.

Wall Street is overwhelmingly bullish on Nvidia and has been for some time. Even as the company slipped on the earnings report, over a dozen analysts raised their price targets on the stock.


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