By Jeremy Bowman
Publication Date: 2026-05-20 06:30:00
Nvidia (NVDA 0.77%) has held the title of world’s most valuable company for nearly a year now, after first claiming it in June 2024 and then trading places with Apple and Microsoft.
That’s a testament to both the power of the AI boom and Nvidia’s own success in dominating the market for data center GPUs, the chips that have been the building blocks for the AI revolution.
In fiscal 2026, which ended in January, Nvidia reported 65% revenue growth to $215.9 million, and 65% profit margins, equal to a $120.1 billion net income. No company this big has ever grown revenue this fast, with such high profit margins.
Nvidia is no longer the top-performing AI stock. That mantle has been passed to memory chip stocks like Micron and Sandisk, and CPU makers like Intel and AMD, who are set to benefit from the era of agentic AI.
However, Nvidia is still easily beating the S&P 500 this year, and the stock recently topped $5.5 trillion in market cap, though it’s since pulled back slightly from there. Nvidia will report first-quarter earnings after hours on Wednesday, and with the company’s current market cap at $5.34 trillion, a strong enough reaction could drive the stock past the $6 trillion mark.
Image source: Getty Images.
What to expect from Nvidia’s Q1
Remarkably, Nvidia’s revenue has accelerated over the last two quarters, underscoring the strength of demand for its chips and dispelling any notion of an AI bubble.
In the first quarter, Wall Street analysts see its revenue growth…
