Nvidia Set to Surpass Saudi Aramco's Record Profit by 2029

Nvidia's financial trajectory is expected to reach unprecedented heights, with a projected annual net income of approximately $851 billion by 2029. This growth would far surpass Saudi Aramco's record profit of $161 billion in 2022.

The forecast is based on Nvidia's earnings per share growing at a compounded rate of 64%, which would place the company's revenue near $1.35 trillion, ranking it as the 18th-largest economy globally, just below Saudi Arabia.

The company's recent strong financial performance and massive demand from cloud and AI sectors support this forecast.