NVIDIA once again delivered a record-breaking quarter today, cementing its position as the indispensable supplier of AI infrastructure. The numbers were outstanding, but what really stood out came directly from CEO Jensen Huang: he anticipates that the world’s largest AI companies will spend $3–4 trillion over the next five years, and that NVIDIA could capture as much as 70% of that spend.

Put differently, that’s $2.1–2.8 trillion in potential NVIDIA revenue by 2030, compared to today’s ~$130 billion. This is not incremental growth—it’s a once-in-a-generation scale-up that dwarfs anything we’ve seen in technology before.

Our colleague Chet ran the numbers using today’s valuation framework. If NVIDIA’s margins, share count, and P/E multiple (currently around 58×) remain intact, earnings per share could rise 16–22 times from current levels. That math points to a potential 2030 share price between $2,900 and $4,000, translating to a multi-trillion-dollar market cap.

Now, we are not in the business of predicting share prices. Markets move, multiples compress, and sentiment shifts. But the math highlights an undeniable truth: if NVIDIA continues executing, its upside is extraordinary. And as we’ve said for years at Italkstocks.com, not owning NVDA simply makes no sense. This company is the backbone of the AI revolution, and being long and strong has never looked smarter.