Will Nvidia shares continue their epic run into 2026 and beyond?

Nvidia (NASDAQ:NVDA) shares have risen by more than 1,000% in just two years. This incredible rally propelled the company to a valuation over $5trn a few months ago — a feat no other business has ever achieved.

As debate rages over whether we’re in a sustainable AI boom or a bubble ready to burst, this is a good time to evaluate the firm’s prospects for next year and beyond. Here’s what I think the future might hold for Nvidia shares.

The king of AI chips

Nvidia’s tremendous success is due to its current stranglehold on graphics processing units (GPUs). According to some estimates, the company controls up to 90% of the market. This near-monopoly is secured by the group’s parallel computing platform, CUDA, which allows developers to accelerate computationally intensive tasks, provided they stay within the Nvidia ecosystem.

GPUs are electronic circuits that are powering the AI revolution, significantly speeding up machine learning and deep learning models. Demand has skyrocketed as the world’s largest technology firms pour billions of dollars into AI infrastructure.

Recently, CEO Jensen Huang revealed an astonishing $500bn order book for Nvidia’s Blackwell and upcoming Rubin chips through to the end of 2026. For any investors thinking of betting against Nvidia stock, this figure alone should give them pause for thought.

What’s more, the business is at the forefront of technological developments…