Nvidia (NASDAQ: NVDA) has been the undisputed face of the artificial intelligence (AI) revolution, powering the world’s largest data centers and fueling a historic run in the stock market.
After soaring more than 800% between 2023 and 2024, Nvidia’s meteoric rise has slowed in 2025, with the stock now trading around $142 and showing signs of stabilization after a volatile start to the year. For investors hoping to become millionaires from here, the outlook is far more nuanced—and hinges almost entirely on whether AI demand can accelerate far beyond even today’s bullish forecasts.
Nvidia’s dominance in AI chips remains unparalleled, with the company holding as much as 95% of the data center GPU market. Its technology underpins generative AI, cloud computing, robotics, and autonomous vehicles.
Revenue and earnings continue to impress, with fiscal 2025 projections pointing to more than $111 billion in annual sales and robust profit margins. Analysts remain upbeat, with some forecasting the stock could reach as high as $521 by year-end if current trends persist.
Yet, the law of large numbers is catching up. Nvidia’s market capitalisation now exceeds $3.5 trillion, and its recent growth has been so explosive that sustaining similar returns is mathematically improbable.
For context, a $10,000 investment in Nvidia today would need to grow nearly 7,000% to reach $1 million in a decade—a feat that would require Nvidia to add trillions more in value, a scenario even the most optimistic analysts view as highly unlikely under normal circumstances.
The biggest wildcard is AI demand. If generative AI, autonomous systems, and edge computing experience a parabolic surge—driven by breakthroughs or mass adoption—Nvidia could see another wave of hypergrowth.
However, risks abound: export restrictions, rising competition from tech giants developing their own chips, and macroeconomic headwinds could all dampen the outlook. Even with continued innovation, most forecasts now expect Nvidia’s growth to moderate to 15–27% annually after 2026, far below the triple-digit gains of recent years.
