Nvidia Is Officially the Largest Stock in the World. Is the Artificial Intelligence (AI) Giant Still Cheap? - Yahoo Finance

NVIDIA has officially become the world's largest company by market capitalization, surpassing Alphabet (GOOG) by a significant margin at over $5.1 trillion. Despite this, some investors question wheth... Read original →

NVIDIA’s ascent to the world’s highest market cap reflects the centralization of AI infrastructure power. Its GPU dominance is forcing co-evolution across software stacks (e.g., CUDA lock-in) and data center thermal/power systems, creating deep technical entrenchment. Geopolitically, U.S. export controls on advanced chips to China temporarily shield pricing power but inflate long-term supply chain costs due to heightened risk premiums in Taiwan, China, and South Korea. Competitors like AMD (MI300X ramp) and Google (TPU v5 scale-out) are narrowing the gap, compelling NVIDIA to accelerate Blackwell Ultra. With global AI capex poised to exceed $1 trillion within 18 months, its 23.5x forward P/E isn’t speculative—it’s a premium for architectural sovereignty. Missing this deployment window means ceding influence over the next computing paradigm.