Can Nvidia Stock Hit $800 by 2030? Analyst Thinks So

If Nvidia was a Marvel superhero, it would have already rescued the tech world three times and still be getting ready for another round. After scaling over more than 1,000% since 2023 and more than 250% since 2024 alone, one can easily believe that the stock has already hit its limit. 

However, Nvidia is the undeniable king of AI chips and for Boston Consulting Group analyst Phil Panaro, Nvidia may only be beginning. He is so excited and optimistic about the company that he boldly predicts the stock may reach $800 a share by 2030, which would be an additional 370% increase from where it stands now.

Nvidia’s Extraordinary Data Center Business

At the center of Nvidia’s future and present development is its data center business. The business started as a company that manufactured graphics processing units (GPUs) for consumers, and it has now become the backbone. It developed into the fundamental infrastructure of artificial intelligence. 

Nvidia’s GPUs are now a requisite for training and deploying big AI models with their parallel processing capabilities, making them a necessity for hyperscalers and cloud behemoths.

Nvidia gathered an astonishing $115 billion from data centers, taking close to 30% of the world’s $400 billion data center capex in its fiscal 2025, which largely covers 2024. Nvidia frequently points to third-party studies, which estimates that the spending will grow to $1 trillion in 2028. Assuming Nvidia maintains its market position, its revenue will expand to $300 billion, doubling its revenue in 2025. That’s gigantic, but it is still not enough to increase the stock price four times or even three times.

The $800 Possibility

The compound annual growth rate (CAGR) for the data center industry is forecasted at 26%. If that rate of expansion holds through 2030, the cumulative capex could reach $1.6 trillion. Having a 30% market share would put Nvidia’s revenue at about $473 billion, growing around 217% from levels today. However, the stock price growth does not proportionately increase with revenue growth, particularly when today’s price-to-earnings ratio is already near 50x.

For Nvidia to reach $800, it would need its earnings and not merely revenue, to accelerate at an even faster pace. That would require more than 30% market share, incorporating high-margin AI software and services, continued dominance in custom chips and integrated AI platforms for a longer period, and sustained investor optimism that supports high valuation multiples. None of these are unlikely, but piling them on top of one another presents a much more aggressive and optimistic view than the standard market view.

Phil Panaro’s $800 call is aggressive, and as much as the math doesn’t yet put us there, it does highlight something very important that Nvidia is hardly finished growing. The firm’s leadership in AI hardware, which includes its tactical software ecosystem (CUDA, Omniverse, etc.), and its head start in new domains such as autonomous driving (through platforms like DRIVE AGX) provide it with high possibility of growth. Even if Nvidia doesn’t quite reach that specific $800 goal by 2030, it’s still set to outdo the market returns for long-term investors. As the technology environment continues to shift, Nvidia’s position seems solidified.

Bottom Line

There’s aspiration, and then there’s predicting that Nvidia will grow another 370% by 2030, when it’s already the highest-valued publicly traded firm in the world. Phil Panaro’s estimate that Nvidia might hit $800 per share takes guts, but the math stretches under analysis. Yes, the market for data centers is on fire, with expenditures set to leap from $400 billion in 2024 to $1.6 trillion in 2030, and Nvidia might retain a 30% share, generating close to $473 billion in revenue per year. But revenue growth does not always correspond proportionally to stock price growth. 

In the best case scenario, for the stock to get a 370% pop, the earnings would have to go through the roof while the market keeps rewarding it with extraordinary multiples. So is it possible for Nvidia stock to really surge another 370% by 2030? Doubtful, unless the company far surpasses its current projections and enters new billion-dollar niches quickly and accurately. Nvidia can definitely double or triple from here by the decade’s end, which is still a good enough reason to buy. 

In a gold rush to AI supremacy, holding a share in Nvidia is equivalent to holding picks and shovels in a gold rush, which is always a good position to be in. Nvidia’s stock is a high priced ticket to the AI future, and it’s going to remain worth it.