Where Will Nvidia Stock Be in 3 Years?
Since the beginning of 2023, Nvidia (NASDAQ: NVDA) has added more than $2.2 trillion to its market capitalization on the back of the artificial intelligence (AI) boom. Demand is through the roof for the company's graphics processing units (GPUs) for the data center, which are the gold standard for developing AI models.
Nvidia's customers include some of the world's biggest technology companies, which are battling for AI supremacy, including , Amazon, Meta Platforms, and Alphabet. These four companies are forecast to spend a record amount of money on data center infrastructure during 2025.
But according to Nvidia CEO Jensen Huang, that spending will increase significantly every year for the foreseeable future, and cross an important milestone in 2028. The company continues to launch new chips to maintain its edge over the competition, so here's where its stock could be in three years.
Source Fool.com
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