Beth Kindig, lead technology analyst at the I/O Fund, has an impressive track record where chipmaker Nvidia (NVDA) is concerned. In 2021, she correctly predicted the company would surpass Apple‘s market value within five years. Nvidia checked that box in three years.

Earlier this year, Kindig correctly called it a buying opportunity when Nvidia stock crashed after Chinese startup DeepSeek introduced low-cost large language models. The stock price has increased 28% since she made that recommendation, and it currently trades at a record high.

However, Kindig’s boldest prediction is that Nvidia will be a $10 trillion company by 2030. That implies 156% upside from its present market value of $3.9 trillion, which equates to annual returns of nearly 19% through the end of the decade for shareholders.

Image source: Getty Images.

Nvidia dominates the markets for data center GPUs and AI networking gear

Nvidia is best known for developing graphics processing units (GPUs), chips commonly used to accelerate time-consuming data center workloads like training machine learning models and running artificial intelligence (AI) applications. Nvidia dominates the space with more than 90% market share, according to Beth Kindig.

Mike Gualtieri at Forrester Research in a recent report commented, “Nvidia sets the pace for AI infrastructure worldwide. Without Nvidia’s GPUs, modern AI wouldn’t be possible.”

Importantly, the company also complements its GPUs with CPUs and interconnects, as well as Ethernet and InfiniBand networking platforms. In fact, Nvidia is the market leader in generative AI networking and it recently added Alphabet‘s Google and Meta Platforms to its growing list of customers.

Going forward, Grand View Research estimates the data center GPU market will expand at 36% annually through 2033. And Morningstar expects generative AI networking market will grow at 34% annually through 2028. That gives Nvidia good shot at annual revenue growth exceeding 30% for many years to come.

Nvidia is likely to maintain its leadership as the physical AI revolution unfolds

ChatGPT popularized generative AI, which uses large language models to turn prompts into novel media like text, images, and video. That technology created tremendous demand for Nvidia AI infrastructure, and the company is well positioned to maintain its leadership as the physical AI boom unfolds.

Physical AI lets autonomous machines understand and navigate the real world, and Nvidia addresses the technology at three layers of the computing stack: Its data center GPUs and networking platforms train AI models, its Omniverse simulation engine generates synthetic training data and tests AI models, and its embedded processors offer on-board computing power to autonomous robots and self-driving cars.

Beyond that, Nvidia’s CUDA platform includes code libraries, application frameworks, and pretrained models that accelerate the development of robotics and automotive software. That vertical integration makes Nvidia the go-to option for engineers and developers as it eliminates the complexity of integrating products from multiple vendors, which ultimately lowers the total cost of ownership.

Indeed, Beth Kindig says Nvidia has a “near-monopoly in building supercomputers” because of the “impenetrable moat” created by its CUDA software platform. She also cites vertical integration — the fact that the company provides data center components well beyond GPUs — as a major reason Nvidia can achieve a market value of $10 trillion no later than 2030.

Nvidia stock trades at a reasonable valuation compared to forward earnings estimates

Nvidia reported strong first-quarter financial results that exceeded expectations on the top and bottom lines. Revenue rose 69% to $44 billion because of robust demand for AI infrastructure, and non-GAAP net income rose 33% to $0.81 per diluted share. Earnings would have increased more quickly had it not been for new chip export restrictions related to China.

Wall Street estimates Nvidia’s adjusted earnings will increase at 41% annually through the fiscal year ending in January 2027. That makes the current valuation of 50 times adjusted earnings look reasonable, especially because the company topped the consensus earnings estimate by an average of 5% in the last six quarters. Long-term investors should feel comfortable owning the stock at its current price.

Cutting-edge tech

Healthcare organizations have established specialized technical infrastructures that drive innovations in their products, research capabilities, and therapeutic technologies.

AstraZeneca has built AI-powered knowledge graphs that integrate complex biological relationships across genes, proteins, diseases, and drugs. This specialized infrastructure enables the identification of disease mechanisms and drug targets that would remain hidden using conventional research methods. Their use of language models like ChatGPT and ClinicalBERT to analyze scientific literature and clinical data enables rapid repurposing of existing medicines. The company’s MILTON AI tool, announced in September 2024, represents a significant technological advancement, predicting over 1,000 diseases before diagnosis to enhance early intervention and personalized treatments.

One of Medtronic’s most significant AI advancements is the GI Genius™ module, an AI-assisted colonoscopy tool that uses NVIDIA’s Holoscan and IGX technologies. This platform supports multiple AI algorithms, allowing third-party developers to create and deploy applications that enhance diagnostic accuracy in gastroenterology procedures. Medtronic’s Live Stream technology with AI analysis for laparoscopic and robotic-assisted procedures, launched in April 2024, provides real-time surgical guidance, enhancing precision in complex interventions. Their AI-enhanced Reveal Linq cardiac monitors represent another key technological innovation that significantly improves arrhythmia detection accuracy.

Bayer has developed specialized computational platforms that simulate biological systems and predict therapeutic outcomes. In the Crop Science division, AI simulations allow Bayer to predict which genetics, seeds, or germplasm will perform best, reducing the need for in-field testing and representing a significant advancement in agricultural research methodology. In April 2024, the company partnered with Google Cloud to develop AI solutions for radiologists, demonstrating their focus on creating innovative healthcare diagnostic technologies.

PARIS and NEW YORK, July 10, 2025 – Elior Group, and IBM (NYSE: IBM) announce their association with the creation of an “agentic AI & Data Factory” to serve Elior Group’s innovation, digital transformation, and improved operational performance. 

This collaboration represents a major step forward in the innovation and digitization of the Elior Group, a world’s leader in contract catering and services for businesses and local authorities. 

The aim of this collaboration is to use IBM’s full services portfolio, and leverage in particular IBM’s expertise in data and AI to support Elior Group’s improvement of its operational processes and offering of innovative solutions to its own customers. IBM will contribute its expertise in setting up AI agents, capable of autonomously processing and analyzing large quantities of data to optimize the performance of Elior Group’s various business units. 

A key aspect of this collaboration is the creation of an “Agentic AI & Data Factory”, a centralized platform to manage and orchestrate AI agents deployed across Elior Group’s countries and business units. This platform will be designed to be flexible and scalable, in order to adapt to the specific needs of each entity and integrate with existing systems. 

Boris Derichebourg, President of Elior and Derichebourg Multiservices explains: “By collaborating with IBM, we are reaching a new milestone in our digital transformation. This effort will enable us to take full advantage of the power of data and artificial intelligence to improve our operational performance and offer our customers ever more innovative and personalized services. This is a strategic step forward that confirms our ambition to remain at the forefront of innovation.”   

Alongside Elior Group’s teams, IBM will actively contribute to the implementation of Elior’s data governance and change management strategy, to help ensure the successful adoption of the new technologies by Elior’s internal teams. Work sessions will be organized to make employees aware of the challenges and opportunities associated with AI and data, and to help them take advantage of the new solutions being implemented. 

This collaboration with IBM is part of Elior Group’s drive to remain at the forefront of innovation and strengthen its leadership position in the foodservice and related services market. By drawing on IBM’s cutting-edge technologies and expertise, Elior Group plans to offer its customers ever more effective services tailored to their needs. 

“Agentic AI is a technology that accelerates the execution of business actions, orchestrate them, and learn from experience. IBM is honored to provide its teams and solutions to support Elior to meet its operational transformation objectives.” comments Alex Bauer, General Manager IBM Consulting France. 

Through this collaboration, Elior Group and IBM France are each demonstrating their commitment to innovation and digital transformation, in the service of performance and customer satisfaction. 

About Elior Group  

 Founded in 1991, Elior Group is a world leader in contract catering and multiservices, and a benchmark player in the business & industry, local authority, education and health & welfare markets. With strong positions in eleven countries, the Group generated €6 billion in revenue in fiscal 2023-2024. Our 133,000 employees cater for 3.2 million people every day at 20,200 restaurants and points of sale on three continents, and provide a range of services designed to take care of buildings and their occupants while protecting the environment. The Group’s business model is built on both innovation and social responsibility. Elior Group has been a member of the United Nations Global Compact since 2004, reaching advanced level in 2015.  

 To find out more, visit www.eliorgroup.com / Follow Elior Group on X: @Elior_Group 

About IBM 

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalise on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. 

Visit www.ibm.com for more information.

IBM’s statements regarding future directions and intentions are subject to change or withdrawal without notice and represent goals and objectives only. 

Press contacts:  

ELIOR:

Silvine Thoma

silvine.thoma@eliorgroup.com

+33 (0)6 80 87 05 54  

Troisième Acte for ELIOR:

Antonia Krpina

antonia@troisiemeacte.com

+33(0)6 21 47 88 69

IBM:

Charlotte Maes

charlotte.maes@ibm.com

+ 33 (0)7 86 09 83 33  

Weber Shandwick for IBM:

Louise Weber

ibmfrance@webershandwick.com

+ 33(0)6 89 59 12 54