Nvidia Stock’s Growth Story May Not Be Over Yet

Nvidia (NVDA) has had a parabolic rally over the last three years as it was the early winner from the artificial intelligence (AI) pivot, with its chips acting as the basic building block for the massive data centers that Big Tech companies are building. The stock has risen nearly sevenfold over the last three years. In terms of absolute dollar value, it has created more wealth for investors in that timeframe than any other company in history.

Nvidia’s rally shook up the Big Tech pecking order, and it not only pipped Apple (AAPL) to become the world’s most valuable company but became the first company to command a market cap of $4 trillion and subsequently $5 trillion. However, Nvidia has failed to decisively move past the $5 trillion market cap, a level it first hit in October 2025. The stock is up just 6.42% this year, which actually trails the Nasdaq Composite Index ($NASX). On the other hand, Alphabet (GOOG) (GOOGL) – which was the best-performing Magnificent 7 stock last year – has looked strong in 2026 also. The stock is up 22.44% for the year and commands a market cap of $4.66 trillion, which is a tad shy of Nvidia.