저자: JimCramer · 외국인
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엔비디아 시총 4조달러 돌파를 축하하며 장기 보유를 권유. 젠슨 황의 인품과 AI 인프라 전환을 강조. 베스 킨딕(IO펀드)의 2030년 시총 10조달러 전망을 소개하며 연 약 19% 수익 가능성 언급. 1분기 매출 69% 증가, 연 41% 이익 성장 전망, 현재 밸류에이션(조정이익 50배)이 용인 가능하다고 평가. 네트워킹·클라우드·자율주행으로 성장 여지 제시.
다듬은 글
at Jim Kramer. Nvidia, own it, don't trade it. That's been my advice for about $3.7 trillion in market capitalization. Today, Nvidia became the first $4 trillion company. And it's hard not to celebrate the success of this business or the man behind it, Jensen W, who has truly changed the world, your world.
It's a big deal to hit $4 trillion, and it captivated the whole market today. Dow gaining 218 points. Nvidia's in the Dow. S&P advanced 61% and the NASDAQ climbed 95%. Before I get into anything else, let me just say this. Jensen Wong is like no other executive I've ever met. I've met a lot of them.
When he was in his formative years, Jensen worked at Denny's as a bus boy, dishwasher, all those other jobs we don't ever want to do. Even if, like me, we did them. I know it seems preposterous, but Jensen impresses me as someone who still acts like he works working at Denny's. Still trying to do a great job, still being respectful and kind and helpful, still trying to get ahead.
As for the $4 trillion mark, Jensen doesn't have time to celebrate. He's not going to stop. That would be hubris. This man is no uber. Instead, he has two qualities that are in very short supply these days anywhere. He's graciousness and gratitude. The graciousness is an exact counter to pomposity and arrogance.
He doesn't have any of those qualities either. The gratitude, it's to those who believed in him, to the shareholders, to those who stuck with him, to those who held on through thick and thin. For Jensen, this is just another day of getting up at 4:00 a.m. doing all the work he has to do, and then spending 8 a.m.
on with his teammates at Nvidia. When you're with him in the company's headquarters, he seems to know everyone by name. Everyone wants to have a selfie with him. He always seems to oblige. I'm not allowed in headquarters unescorted, but my late dog Everest, the one I renamed Nvidia, well, he was, I renamed him that many years ago because I couldn't get anyone to buy the darn stock.
Can you imagine that? And clearly Jensen appreciated the gesture. Now, let's talk about this $4 trillion achievement. Let's put in perspective. In the last 25 years, only four companies have earned the title of the biggest public company in America. Microsoft, General Electric, Exon Mobile, and Apple.
GE wore the crown twice, Microsoft five times, Exon Mobile 7, and Apple an astounding 11 times. Hallow ground. Of course, G imploded not long after. Too much leverage. Exon Mobile oil prices shot up and Exon was the biggest company in the industry at that time. But the two that still rival Nvidia, Microsoft and Apple, I think that's the most telling part of the story.
Early on Thursday, Nvidia's stock is indicating further increases after the chipmaker surpassed rival tech giants Apple and Microsoft to become the first publicly traded corporation to reach the $4 trillion milestone on Wednesday. After completing Wednesday's session at a record high, up about 2% for the day, shares increased by 0.3% in pre-market trading.
At the close, its market capitalization was little under $4 trillion. The action was taken as the chip giant continues to capitalize on the excitement surrounding Generative AI, which began in 2022 with the launch of OpenAI's chat GPT. The stock price of the chipmaker has increased by about 21% so far this year and by 24% in the last 12 months.
Nvidia has a competitive edge that rivals AMD and Intel are still finding difficult to overcome because to its CPUs, customized graphics cards, and CUDA software platform which are made to both train and run AI systems. As they construct the data centers required to give cloud-based AI services to their clients and develop their own internal AI models, tech giants like Amazon, Google, Meta, Microsoft, Tesla, and others are investing hundreds of billions of dollars in the hardware of their companies.
This year, Nvidia's stock price has fluctuated a lot. Following Deep Seek's January release of its R1 model, which it claimed it was able to train using less than top tier CPUs, the company's market capitalization suffered a $600 million knock. Fearing that Nvidia's expensive data center chips were becoming outdated, Wall Street went into meltdown mode.
The market began to feel that Nvidia's processors were no longer required when combined with worries that the AI business was shifting from training AI models to inferencing or employing AI models. But both of those have shown out to be incorrect. Thus far, the industry has demonstrated that inferencing benefits from increasingly powerful AI processors since they enable them to answer more complicated questions, and Nvidia's chips continue to rank among the best for training AI models.
The rise of so-called sovereign AI or AI data centers that enable nations to employ their own AI services instead of depending on those provided by other nations, has also helped Nvidia. It is anticipated that the corporation will deliver hundreds of thousands of chips to nations around Europe and Saudi Arabia.
Furthermore, Nvidia has been able to overcome restrictions on its chip shipments to China imposed by the Biden and Trump administrations. The company's stock price is still rising even though the ban caused a huge $4.5 billion hit to its bottom line in the most recent quarter and it expects a greater $8 billion write down in the current period.
With no rival in sight and the arrival of its next generation Blackwell Ultra processors imminent, the chip manufacturer may expand even more. When it comes to chipmaker Nvidia, Beth Kindig, head technology analyst at the IO fund, has a stellar record. She was right when she said in 2021 that the company would be worth more than Apple in 5 years.
In 3 years, Nvidia checked that box. When Nvidia's stock plummeted earlier this year following the introduction of lowcost large language models by Chinese startup Deepseek, Kindig accurately predicted that it was a time to buy. Since she gave that advice, the stock price has risen by 28% and is now trading at a record high.
But Kindig's most audacious forecast is that by 2030, Nvidia would be worth $10 trillion. That represents a 156% increase from its current market value of $3.9 trillion, translating into approximately 19% yearly returns for stockholders through the end of the decade. Nvidia is most recognized for creating graphics processing units, GPUs, which are processors that are frequently utilized to speed up laborious data center tasks like running artificial intelligence, AI applications, and training machine learning models.
According to Beth Kindig, Nvidia has a market share of over 90% making it the industry leader. According to a new research by Forester Researchers Mike Gualtieri, Nvidia is setting the standard for AI infrastructure globally. Modern artificial intelligence would not be feasible without Nvidia's GPUs.
Crucially, the business also offers Ethernet and Infiniban networking platforms, CPUs, and interconnects to go along with its GPUs. . As the industry leader in generative AI networking, Nvidia recently expanded its clientele to include Alphabet's Google and Meta Platforms. Grand View Research predicts that through 2033, the data center GPU market would grow at a rate of 36% per year.
Additionally, Morning Star projects that through 2028, the generative AI networking industry would expand at a rate of 34% per year. As a result, NVIDIA has a decent chance of seeing yearly revenue growth of over 30% for many years to come. Generative AI, which transforms prompts into new media, including text, graphics, and video using massive language models, was made popular by ChatGpt.
NVIDIA is in a strong position to hold on to its leadership as the physical AI boom develops because of the enormous demand that this technology created for the company's AI infrastructure. NVIDIA tackles physical AI at three levels of the computing stack, which enables autonomous devices to comprehend and traverse the real world.
Its embedded processors provide onboard computing capacity to autonomous robots and self-driving cars. Its data center GPUs and networking platforms train AI models, and its Omniverse simulation engine creates synthetic training data and evaluates AI models. In addition, NVIDIA's CUDA platform offers pre-trained models, application frameworks, and code libraries that speed up the creation of software for robotics and automobiles.
Because it removes the hassle of integrating components from several suppliers, Nvidia's vertical integration makes it the preferred choice for engineers and developers, thereby lowering the total cost of ownership. According to Beth Kindig, Nvidia has a near monopoly in the production of supercomputers due to the impenetrable moat that its CUDA software platform has established.
Additionally, she points to vertical integration, the company's provision of data center components that go far beyond GPUs as a key factor in Nvidia's potential to reach a $10 trillion market valuation by 2030. Both the top and bottom lines of Nvidia's first quarter financial results were better than anticipated due to the strong demand for AI infrastructure.
Revenue increased 69% to $44 billion while non GAP net income increased 33% to $081 per diluted share. If it weren't for recent Chinese export limits on chips, earnings would have grown faster. According to Wall Street, Nvidia's adjusted earnings will grow by 41% a year until the fiscal year that ends in January 2027.
Given that the company outperformed the consensus earnings estimate by an average of 5% over the previous six quarters, the current valuation of 50 times adjusted earnings appears acceptable. The stock should be comfortable for long-term investors to own at its current price. . Nvidia's road to a $4 trillion market cap was boosted by a major rebound in the past 3 months.
Shares jumping more than 40% since April. But what could fuel the chip makers next leg higher? Christina Partz digs into that for today's tech check. Hey, Christina. Hi, Leslie. Well, like you said, Nvidia's newly achieved, albeit briefly, $4 trillion market cap today is really a valuation fueled by more than just chip sales.
Investors are really buying into the transformation for Nvidia into an AI infrastructure powerhouse. CEO Jensen Wong has repeatedly stressed that Nvidia is no longer quote just a GPU company, calling that era the good old days at Nvidia's GTC conference just uh this past March. He now describes Nvidia as an AI algorithm firm and with chip design almost secondary.
The stock like you mentioned 40% surge since uh May April and that has been aided not only by the shift into an AI infrastructure but also the thaw in US China trade tensions as well as multi-billion dollar chip deals in the Middle East. But the long-term thesis really centers on Nvidia's full stack strategy in networking.
Bank of America says Nvidia's NVL link is at least one to two generations ahead of its competitors, allowing chips to communicate faster with each other. Its Infiniban technology could be even more significant, enabling ultraigheed communication across servers and data centers, which is really critical for largecale AI workloads.
In cloud computing, Nvidia's new DGX cloud leptin gives it direct access to developers through partners like Coreweave and Lambda circumventing traditional cloud providers like AWS. AWS by the way are many cloud providers are now trying to build their own chips to reduce dependence on NVIDIA. And in autonomous vehicles, Bank of America says the industry is having its quote chat GPT moment, pointing to the massive data needs.
A single test vehicle can generate enough data in 6 hours to fill 256 iPhones. They estimate the GPU count for an autonomous driving assisted system could jump from 8,000 GPUs to 80,000 GPUs just in the next few years. Right now, auto only contributes 1% of Nvidia's total fiscal 2025 sales, which means there's a lot of room for growth.
Nvidia's growing presence though across networking, cloud, and autonomous technology really offers a glimpse into why Wall Street is valuing this company far beyond a traditional chipmaker. wasn't. Yeah, certainly getting uh that
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