Nvidia added $591 billion to its market capitalization in four trading days-roughly the entire value of Oracle, a company founded in 1977.
The AI Gold Rush Accelerates
CoreWeave signed a $6.5 billion agreement with OpenAI for AI model training in early May 2026. This marks the third major deal of its kind this year, contributing to a wave that has generated $22.4 billion in potential revenue from AI-related contracts since March 2025. Each deal reinforces reliance on Nvidia's GPUs as the backbone of AI compute.
Nvidia's market cap surpassed $3 trillion in 2024, driven by hyperscaler spending on GPU clusters capable of training frontier AI models.
Analyst Outlook
Analysts forecast 22.9% annual revenue growth and 23.1% earnings-per-share growth for Nvidia, benchmarked against peers like Apple and Amazon.
CoreWeave, an intermediary that buys Nvidia GPUs at scale and rents compute to companies like OpenAI, has inked deals totaling $22.4 billion since March 2025.
The Crypto Connection
Nvidia's GPUs remain critical for cryptocurrency mining. The same hardware powering AI is architecturally suited for proof-of-work mining's parallel processing demands. Rising AI demand creates supply constraints that tighten GPU availability and drive up prices for crypto miners.