Nvidia (NVDA 1.47%) has been an incredible stock to own over its lifetime. Although it has become a household name for its artificial intelligence (AI) products in recent years, it has been developing powerful technology for decades. If you had invested $10,000 in its stock at different times, you could have been a millionaire or more today. For example, if you had invested $10,000 in Nvidia stock 10 years ago, you'd have $2.2 million by now, Dec. 22, 2025.
Can Nvidia still make you a millionaire? Let's check it out.
Image source: Nvidia.
The gateway to AI
Nvidia has been building its technology empire for decades, honing its semiconductors to power systems that require high processing power and graphics, like gaming. It was already a star stock before AI transformed the world as we know it, but it was relatively obscure outside the investing community.
That focus put it into an excellent position to support the growth of generative AI, which requires the kind of power that Nvidia's graphics processing units (GPUs) provide, although there are many competitors today, including other kinds of chips like Alphabet's Tensor Processing Units (TPU) and Broadcom's application-specific integrated circuits (ASIC). However, it's a lot more than GPUs these days, and it continues to stay ahead of the curve and launch new products and systems. Its clients are reliant on its CUDA (compute unified device architecture) software and vertically integrated program that creates a robust economic moat; users are already invested in its systems.
This ecosystem is Nvidia's edge, and this is where the company is investing. It has incredible opportunities in data centers, which are huge AI factories using a suite of Nvidia services. These generate the compute and inference power necessary to process the huge data loads that make AI happen.
It recently rolled out a line of quantum computing hardware, including supercomputers that harness the power of quantum processing units (QPU). These kinds of integrated and hybrid solutions, in which it excels and has an unparalleled program, are fast becoming Nvidia's niche.
Despite new competition, it still can't keep up with consumer demand. Sales increased 62% year over year in the 2026 fiscal third quarter (ended Oct. 26), and management is expecting sales to increase 65% in the fourth quarter.
That's why it continues to report incredible growth, quarter after quarter. And because it has such a lead in its space, it can price its products at a high gross margin, which translates into a healthy and growing bottom line; gross margin was 73.6% in the third quarter, and earnings per share (EPS) were up from $0.81 to $1.30.
NASDAQ: NVDA
Key Data Points
Can Nvidia keep up its growth?
Turning $10,000 into $1 million implies growing it a hundredfold, or 10,000%. Nvidia is the most valuable company in the world today, worth $4.3 trillion. It doesn't seem possible for it to gain 10,000% at its stage today, even very far off into the future.
Stock gains typically follow percentage growth, and although Nvidia is still reporting impressive growth, it's hard to imagine it being able to sustain that momentum in percentage terms, even if it keeps increasing in dollar terms. For example, it has $187 billion in trailing-12-month revenue. At a compound annual growth rate (CAGR) of even 30% over the next 10 years, which is well below where it's holding today, sales would surpass $2.5 trillion, which doesn't seem like a likely outcome; at some point, the growth rate must decline. As growth slows down, stock gains are going to as well.
Even this year, Nvidia stock is up 35%. While that's still about double the stock market's gain, it's a steep deceleration from the past two years.
I don't envision a $10,000 investment in Nvidia stock turning into $1 million at this stage, but it could still deliver market-beating results for the growth-oriented investor.
