Nvidia (NVDA) made headlines last week after becoming the first publicly traded company to hit a $4 trillion market cap, a milestone that cements its place as the crown jewel of the AI boom.
But here's the kicker, Nvidia is now worth more than the entire German stock market.
As of Friday’s close, Nvidia’s market cap stood at just over $4 trillion, nearly $1 trillion higher than the Bloomberg Germany Exchange tracker, which clocks in at around $3.1 trillion.
Germany flatlined, Nvidia took flight
The divergence wasn’t always this dramatic.
In mid-2024, Nvidia’s valuation briefly matched that of Germany’s entire exchange. At one point during the trade-war-driven sell-off, Nvidia even dipped below Germany.
But since April, the chipmaker has staged a jaw-dropping comeback. According to Bloomberg data, NVDA has surged nearly 75% off its April lows, while Germany’s stock market rose modestly before stalling out.
As of Friday, NVDA was trading just under $165 a share.
Germany, by the way, isn’t some small fry. It’s the third-largest economy in the world, and its stock market ranks among the top ten globally. That’s what makes this gap so telling.
What’s next for NVDA?
After a volatile first half of 2025, most analysts see Nvidia charging into the second half with momentum to spare.
The optimism hinges on two big forces:
- Nvidia’s 90% share of the AI GPU market
- And Big Tech’s capital frenzy around AI infrastructure and data centers
Citi, Mizuho, and Goldman Sachs have all raised their price targets in recent weeks, citing huge demand for Nvidia’s next-gen Blackwell chips.
Atif Malik, managing director at Citigroup, sees another 20% upside for NVDA, based on his new estimate that the data center AI market could top $560 billion in the next three years, up from his previous $500B call.
James Schneider at Goldman Sachs is sticking with his Buy rating, pointing to Nvidia’s widening customer base, which now includes major cloud providers, healthcare firms, and even defense contractors.
Dan Ives at Wedbush is going even further, forecasting a $5 trillion market cap by 2026.
“This is a historical moment for Nvidia,” Ives wrote. “The tech space is flexing its muscles, and this speaks to the AI Revolution hitting its next stage of growth.”
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