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Nvidia Expected to Reach $10 Trillion Valuation by 2030
Technology analyst Beth Kindig forecasts that Nvidia (NASDAQ: NVDA) will achieve a market cap of $10 trillion by 2030, indicating a potential upside of 122% from its current valuation of $4.5 trillion. Nvidia currently dominates the AI accelerator market, holding over 90% market share in GPU sales.
Key hedge fund managers have significantly increased their stakes in Nvidia during the second quarter of 2023: Ken Griffin of Citadel Advisors bought 6.1 million shares (up 922%), Philippe Laffont of Coatue Management added 2.9 million shares (up 34%), and David Tepper of Appaloosa increased his holdings by 1.4 million shares (up 483%). Analysts anticipate that Nvidia will continue to lead in AI infrastructure as spending on AI technologies is predicted to grow at 37% annually through 2030.
CEO Jensen Huang stated that Nvidia’s technologies are widely utilized in autonomous vehicles and robotics, including by major industry players like Tesla and Amazon. With Wall Street forecasting a 36% growth in earnings over the next three years, the company’s current valuation of 54 times sales may appear justified.
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