Nvidia to Rival Country's GDP with $851 Billion Net Income by 2029

Nvidia's projected net income of $851 billion by 2029 could rival the GDP of many countries, shattering Saudi Aramco's record for corporate profitability. This projection is based on a 64% compounded EPS growth rate forecasted by Wall Street analysts.

The chipmaker's revenue opportunity per gigawatt has increased from $18 billion on Hopper to $40 billion on Vera Rubin, according to Jensen Huang. The customer commitments back the ramp, with AWS deploying an additional 2 million GPUs through Q2 FY2029 and OpenAI committing to approximately 12 gigawatts of NVIDIA compute through 2030.

Nvidia's revenue growth has been impressive, with a 105.85% year-over-year increase in its most recent quarter (Q2 FY2027). The company's operating margin ran at 60.38%, net margin at 55.6%, and return on equity at 101.5%. Analyst sentiment supports the compounding thesis, with 52 analysts covering fiscal 2028 and zero downward revisions in the trailing 30 days.