Nvidia Set to Double Amid $3 Trillion Data Center Boom

Nvidia is poised to benefit from rapid growth in data center expenditures, which could reach $3 trillion by 2030. The company's AI computing units hold a significant market share lead and generated $96 billion in revenue during the second quarter, with expectations of rising to $108 billion next quarter.

The bulk of Nvidia's revenue comes from data center products, and the company expects 70% revenue growth through 2027. If Nvidia hits analyst projections and trades at a reasonable valuation, the stock could double.

Taiwan Semiconductor and Micron are critical suppliers to Nvidia and its peers in the chip foundry industry. They are vital to the function of computing chips like those used by Nvidia but also for competitors. Taiwan Semiconductor holds 72.5% revenue share in the chip foundry space as of Q2 2026.