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Why one analyst thinks Nvidia could double its market cap to $9 trillion by the end of the decade
Nvidia could reach a $9 trillion valuation by 2030, according to an analyst at Melius Research. That's because the chip giant is on track to capture a big part of the AI infrastructure market. Melius thinks the firm could raise its annual revenue to around $600 billion by the end of the decade. The world's most valuable company could be on its way to a $9 trillion valuation in the next five years. Ben Reitzes, an analyst at Melius Research, thinks Nvidia could notch a $9 trillion market cap by the end of the decade. The chip giant is poised to nab a big share of the overall demand for AI infrastructure, Reitzes said in a video presentation to clients on Monday. That could potentially take the company's annual revenue to $600 billion by 2030, supporting the massive valuation target, per Melius' estimates. "We think the most important thing for long-term investors is to look at power," Reitzes added. "Power is the biggest constraint." There are several moving parts to Reitzes' thesis: AI energy demand will keep growing. Gigawatt energy demand stemming from AI is on track to post a 30% compounded annual growth rate per year through the end of the decade, Reitzes said, citing figures from McKinsey. That implies AI workload demand hitting 156 gigawatts by the end of 2030. Each gigawatt of demand could lead to $40 billion to $50 billion in revenue opportunity for Nvidia. That's according to estimates the company has shared with investors. But, when accounting for inflation and other factors, revenue opportunity for Nvidia could increase to as much as $60 billion through the end of the decade, Reitzes speculated. Assuming that energy demand grows at a 30% pace, that implies Nvidia's total annual revenue opportunity rising to around $2 trillion by 2030, Reitzes said. Nvidia will capture a significant share of the AI infrastructure market. Nvidia is already partnering with data center companies and other hyperscalers to capture some of the AI infrastructure market, Reitzes said. "What does that mean? That means they're becoming an infrastructure player, and they should have a meaningful share of the AI workload buildout," he added. Assuming that Nvidia captures 30% of the market, that implies the chipmaker pulling in around $600 billion in annual revenue by the end of the decade. That supports a $9 trillion valuation for the company, Reitzes said, using an annual earnings multiple of 15 to base his calculations. Nvidia became the first company to hit a $4 trillion valuation in July. Retizes' estimated valuation implies that the company will more than double its market cap in the next five years. "Now, I'm not saying they get there by any given year. But at the end of the decade, it does look possible," he added. There's one caveat: Reitzes' estimates hinge on players in the industry investing to support the demand for AI energy. It will require around $5 trillion to unleash the energy demand he outlines by 2030. "Can the industry invest that $5 trillion in order to release those gigawatts so Nvidia can be the strategic vendor with $600 billion in revenue by the end of the decade? We think power is the one thing we've got to ask Jensen on the call for long-term investors," he said. Investors are waiting for Nvidia to report earnings for the second quarter next Wednesday after the closing bell. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Asian Stocks Under Pressure After US Tech Slide: Markets Wrap
Asian stocks are poised for a sluggish start after a selloff in big tech dragged Wall Street lower. Equity futures show declines in Tokyo and Hong Kong after the Nasdaq 100 logged its second-worst drop since April's tariff shock. The slump was driven by a 3.5% slide in Nvidia Corp., highlighting the US market's heavy dependence on a handful of tech giants. Sydney contracts signal a modest gain at the open.
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BONK, the Solana-based meme token, endured heightened volatility in the last 24 hours, falling 2.9% to $0.00002192. The action was defined by a ceiling at $0.00002308 that sellers repeatedly defended, while downside pressure built steadily, according to CoinDesk Research's technical analysis data model. Consolidation around $0.00002262 gave way to an advance toward $0.00002306 in the early U.S. afternoon on Monday, establishing the day's key resistance point. The sharpest bearish momentum unfolded during the early hours of Tuesday, when BONK slipped from $0.00002285 to $0.00002217 between 01:00 and 05:00 UTC. Volumes surged past 600 billion tokens at the 03:00 UTC interval, suggesting institutional-scale selling and possible retail capitulation. BONK fell another 2% to $0.00002117 during the U.S. morning Tuesday with intraday declines accompanied by spikes in volume above 30 billion tokens. Brief rebounds, including a recovery attempt to $0.00002244 at 13:54 UTC, failed to sustain momentum, leaving BONK locked in a descending channel pattern. Despite short-term weakness, longer-term data indicates selective accumulation. Sophisticated investors expanded holdings by over 300% in the past month, even as whale wallets trimmed positions by roughly 110 billion tokens. This divergence points to strategic positioning amid broader volatility, though technical indicators still suggest risk of a retest toward the $0.00002100 psychological support level. Technical Analysis BONK capped at $0.00002308, serving as key resistance. Sharp decline from $0.00002285 to $0.00002217 between 01:00-05:00 UTC on Aug. 19. Trading volume exceeded 600 billion tokens during peak selling activity at 03:00 UTC. Repeated failures to reclaim $0.00002250 confirmed persistent selling pressure. Decline of 2% from $0.00002251 to $0.00002117 highlighted continued weakness. Brief recovery to $0.00002244 at 13:54 UTC reversed quickly, reinforcing descending channel trend. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
