Nvidia (NVDA) is one of the greatest wealth-creating machines in market history.

Since ChatGPT came out in late 2022, NVDA has 10X’d investors’ money.

We recommended Nvidia in Disruption Investor in September 2020, when it was a $320 billion company.

After such a spectacular run, the question every investor is asking is: Can it keep delivering?

When a stock rises this far, this fast, the natural assumption is that the easy money has already been made.

Case in point: NVDA has gone nowhere for the past eight months. A lot of investors have given up on it.

But as I’ll show you, this is a big mistake. Nvidia is on the verge of another big run.

It has to do with its latest, game-changing product...

I’ll explain everything you need to know. But first, go back a couple years ago...

• Artificial intelligence (AI) used to be an average intern...

Helpful at times, but also unreliable. It made basic mistakes.

Today, it’s much more capable. It can write useful code. It can solve harder problems. It can summarize huge amounts of information in seconds.

I recently built an interactive database tracking America’s most important innovators using AI.

From start to finish, The Innovators League website took me just 37 minutes. It felt like magic.

 Source: Rational Optimist Society

This would have been unthinkable even a year ago.

Most investors don’t realize that better chips played a surprisingly little role in AI’s recent progress.

It was mainly the result of better software.

AI companies found smarter ways to train their models. They got better at fine-tuning them after training. They found ways to make them “think” longer before answering. And they learned how to get more performance out of the same machines.

Think of it like Formula 1.

For the last 18 months, the car kept getting faster… not because the engine changed much, but because the team kept tuning everything else. Better tires. Better aerodynamics. You get the idea.

But tuning can only take you so far. At some point, the next leap has to come from a better engine. That is what Nvidia is now bringing to the market.

• Two weeks ago at the GTC conference, Nvidia put the spotlight on Blackwell Ultra.

My partner Chris Wood calls it “the most significant product launch in Nvidia’s history.”

It marks the shift from 8-GPU “server-scale” systems to 72-GPU “rack-scale” systems.

Without getting too much into the weeds, it pushes the boundaries on performance when it comes to running massive AI models. It delivers about 4X faster training... 30X faster inference... and 50X higher AI factory output per megawatt.

For big tech customers like Microsoft (MSFT), Alphabet (GOOGL), and OpenAI, it’s a big win for speed and efficiency.

They can run more queries. Deliver faster answers. Support more complex reasoning. And, most important, build larger, more capable AI models.

If AI kept getting better just from software upgrades, imagine the improvement we’ll see now that we finally get a major hardware upgrade…

And how aggressively tech companies will scramble to secure the new Nvidia chips.

• In 2024, big tech spent $250 billion on AI infrastructure.

In 2025, that figure surged to about $400 billion.

This year, they plan to splurge $700 billion on AI infrastructure. Big tech firms simply can’t afford to fall behind in the AI arms race.

They’re building football-field-sized data centers to train and run ever-more-powerful AI models.

If the ultimate prize is a “digital-god-scale” platform worth trillions of dollars over decades, you’re highly motivated to keep investing as much and as fast as possible.

That means buying Nvidia’s latest and most powerful AI chips.

The ongoing AI boom is locking big tech into a spending cycle that should keep billions of dollars flowing into Nvidia’s coffers for years.

Nvidia CEO Jensen Huang has said Blackwell—and the upcoming Rubin platform—represent more than $1 trillion in revenue opportunity for Nvidia by the end of 2027.

As long as the AI race keeps accelerating, Nvidia remains one of the clearest ways to profit from it.

• Nvidia is a staple in our Disruption Investor portfolio.

We’re up 550% on it (upgrade to Disruption Investor here). And we’ve already collected profits twice.

Thanks to the recent pullback, the stock is now trading near its lowest valuation in the past five years.

For anyone that doesn’t own NVDA yet, this is a great opportunity to buy it.

Stephen McBride Chief Analyst, Riskhedge