In 2024, Nvidia was the most dominant force on Wall Street, surging more than 170%. That changed drastically with the turning of the calendar, as a sluggish market pushed the AI chipmaker down alongside many of its competitors. However, that doesn’t change the reality that Nvidai (NVDA) is projected to hit $1 trillion in revenue as the stock appears unstoppable.
Although the first three months of the year haven’t equated to massive gains for the company, it has still looked like a turnaround was nearing. With the infrastructure in tech being developed around artificial intelligence, the position of the chipmaker appears secure. Indeed, by the day, the number of experts awaiting a surge is growing.
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Nvidia on Pace for $1 Trillion in Revenue? Why Wall Street is Still Betting Big on the Stock
The US stock market has been increasingly volatile this year. With geopolitical concerns and a fragile economy, many of the nation’s largest companies have paid the price. Tesla (TSLA) is looking to avoid its 10th straight weekly loss. Moreover, Nvidia is down more than 18% from its January highs.
However, that has not disregarded the long-term outlook that the stock is facing. Indeed, NVidia (NVDA) is projected to eventually reach $1 trillion in revenue, and that could make the stock a force unlike any that Wall Street has seen.
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At the company’s GTC conference, Nvidia CEO Jensen Huang stated that the firm’s data center infrastructure revenue will surpass the $1 trillion mark in the next three years. That would make it the largest revenue earner in the world, far surpassing Walmart (WMT) and its top position of $673 billion in revenue.
The question many have is if that figure is a realistic goal. Interestingly enough, it may actually undersell it. The company has generated $115 billion over the past four quarters, according to NASDAQ. Moreover, it has seen data center revenue jump 93% in Q4 from a year prior.
If that trend were to continue, Nvidia would actually be eyeing a $1.6 trillion revenue figure by the 2028 timeline that Huang put forth. That’s a big reason why experts are so bullish on the stock. Currently, it has a median price target of $175, up 45% from its current position. However, its high-end price projection sits at $235, according to CNN. That showcases an upside of more than 95% for the tech giant.