NVIDIA at Trillion-Dollar Heights: Too Late to Buy?

Since NVIDIA (NASDAQ: NVDA) joined the trillion-dollar club in 2023, its market capitalisation has reached an eye-watering peak of US$5 trillion.

However, good stocks are only good investments if one doesn’t pay too much for them.

Here’s the five trillion-dollar question: Is it too late to buy NVIDIA?

We unpack the drivers behind NVIDIA’s rise to find out.

From its humble beginnings as a gaming graphics processing unit (GPU) provider, NVIDIA currently derives most of its revenue from the Data Centre segment through a single, ubiquitous platform running every AI model in the world.

Such ubiquity puts it in a unique position to address all three massive platform shifts:

• From CPU to GPU-accelerated computing

• From classical machine learning to generative AI

• The rise of agentic and physical AI

For the first nine months ended 26 October 2025 (9MFY2026), NVIDIA’s revenue grew by over 62% year-on-year (YoY) to US$147.8 billion, with profits rising by close to 52% YoY to US$77.1 billion.

NVIDIA’s vast customer base, spanning cloud service providers (CSPs), sovereign nations, enterprises, and research institutions, has unleashed massive spending on NVIDIA’s offerings, pushing its market value to trillion-dollar heights.

Crucially, with top CSPs and hyperscalers projected to increase AI spending to US$600 billion in 2026, NVIDIA’s growth momentum remains strong.

With the current price per share of approximately…