Despite its hefty market cap, Nvidia still trades at a reasonable forward P/E ratio, just 45 times full-year earnings estimates. Wall Street analysts currently anticipate Nvidia's earnings growing by an average of almost 33% annually over the next three to five years. That is plenty of growth to justify owning the stock at these levels.

Nvidia CEO Jensen Huang has projected that AI infrastructure spending will reach $3 trillion to $4 trillion by the end of the decade. After a slate of multiyear, multi-gigawatt deals between OpenAI with AMD,

OpenAI’s $1T IPO could fuel its shift from Nvidia’s pricey GPUs toward efficient, self-powered AI infrastructure and industrial autonomy.

Both companies were back at it on Tuesday, announcing deals that once again added billions in value to public companies.

Money, computer chips, and cloud credits are rotating in a closed loop among a handful of companies: Nvidia, OpenAI, Microsoft, Oracle, AMD, CoreWeave, xAI, and a few others. This has fueled a trillion-dollar AI boom or bubble built on intertwined investments and contracts.

Amazon Web Services (AWS) and OpenAI ink new $38 billion deal to host OpenAI's new NVIDIA GB200 and GB300 AI servers to be deployed in 2026.

OpenAI's (OPENAI) deals over the past month with the who's who of tech giants have swollen to hundreds of billions of dollars.

CEO, Lisa Su, highlighted the significance of the company's multi-billion-dollar, multi-year partnership with OpenAI, saying that it could help the company's AI business gain traction.

US stocks finished the first trading day of November mixed, with Big Tech names like Amazon (AMZN) and Nvidia (NVDA) rising near record-high levels, fueling a continued rally in the AI trade even as those gains weren't broadly distributed.