NVIDIA is on the verge of reaching its iPhone moment with AI ahead of Apple like Microsoft, with projections of hitting $10 trillion in market capitalization by 2030

Image of various NVIDIA RTX and AI technologies.
(Image credit: NVIDIA)

What you need to know

  • Analyst says NVIDIA's stock will surge 258% from current levels and predictably hit a $10 trillion market valuation by 2030, potentially taking Apple's position as the world's second most valuable company.
  • NVIDIA's next-gen Blackwell GPU chips will reportedly prompt immense growth for the company alongside its CUDA software platform.
  • Apple will reportedly join the AI fray during its WWDC 2024 developer conference after signing a deal with OpenAI to bring ChatGPT to the iPhone.

NVIDIA is well-known for manufacturing GPUs and chip systems used in vehicles, robotics, and (most recently) AI advances. Many corporations are hopping onto the AI train, and most are emerging successful in the category. For instance, Microsoft is now the world's most valuable company ahead of Apple with over $3 trillion in market capitalization.

Market analysts attribute Microsoft's immense success to its early and heavy investment in OpenAI technology. The tech giant's latest earnings call reflects similar sentiments. Analysts project that Microsoft is on the brink of reaching its iPhone moment with AI. As it happens, NVIDIA might be on the same trajectory. I/O Fund tech analyst Beth Kindig says NVIDIA's stock will surge 258% from current levels and predictably hit a $10 trillion market valuation by 2030 (via Business Insider).

NVIDIA's success can be attributed to the vast number of companies rushing to join the AI fray and depending on the company for chips to further their AI advances. As we speak, NVIDIA is currently the third-most valuable company in the world with 2.67 trillion in market capitalization, a few $100 billion to surpass Apple's 2.92 trillion.

READ MORE: NVIDIA hits iPhone moment with AI

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As you may know, Apple has been playing it safe and is now a tad late to the AI party. However, a recent report indicates Apple has signed a new deal with OpenAI to bring its technology advances, including ChatGPT to the iPhone via the long-anticipated iOS 18 update (though most of these features will reportedly work on the iPhone 15 Pro or later). 

It remains unclear how this play will help the iPhone's depressed sales, especially in the Chinese market. Likewise, Microsoft, OpenAI's largest investor is worried about the newly-found partnership between Apple and OpenAI. The company's CEO Satya Nadella is reportedly concerned about the future of Microsoft products and services with AI. 

Blackwell GPUS and CUDA software platform are gold for NVIDIA

Kindig says NVIDIA's next-gen Blackwell GPU chips will prompt immense growth for the company alongside its CUDA software platform. Blackwell GPUs hold the potential to surpass the success NVIDIA enjoyed through the H100 and will generate up to $200 billion in revenue by the end of NVIDIA's fiscal year 2026.

While speaking to CNBC, the analyst indicated:

"Blackwell will empower and enable trillion-plus large language models, which is exactly where big tech is trying to go. Those components altogether equal a very large hardware data center segment, then we have software coming... and then the third one is automotive, so we have a lot coming. This is very, very early for Nvidia."

READ MORE: Microsoft and OpenAI bet $100 billion to free themselves from the shackles and overreliance on NVIDIA

Last year, NVIDIA was named the world's most profitable semiconductor chip brand due to the rise in demand for AI GPUs with Meta and Microsoft as its A-list clients, placing it ahead of Intel and Samsung. At the time, its revenue for Q3 2023 stood at $18.12 billion with $10.42 billion in profits, translating to a 206% year-over-year increase.

Kevin Okemwa

Kevin Okemwa is a seasoned tech journalist based in Nairobi, Kenya with lots of experience covering the latest trends and developments in the industry at Windows Central. With a passion for innovation and a keen eye for detail, he has written for leading publications such as OnMSFT, MakeUseOf, and Windows Report, providing insightful analysis and breaking news on everything revolving around the Microsoft ecosystem. You'll also catch him occasionally contributing at iMore about Apple and AI. While AFK and not busy following the ever-emerging trends in tech, you can find him exploring the world or listening to music.

  • fdruid
    Seems like everyone is getting their "iphone moment" except Apple. They just did it a single time and don't seem to have anything else up to their sleeve.
    Take note, that's how giants fall, by taking success for granted.