Nvidia Stock Could Rise Another 38%, Making Jensen Huang-Led AI Giant A Nearly $5 Trillion Company, Says Barclays

Barclays analysts have raised their price target for Nvidia Corp. NVDA to $200. This would push Nvidia’s market capitalization to nearly $5 trillion.

What Happened: This new target suggests a potential 38% increase in the company’s stock price, translating to a $4.9 trillion market capitalization, reported MarketWatch.

The analysts highlighted Blackwell AI platform as a key driver of this growth for the Jensen Huang-led company. They observed a “healthy” level of platform usage and expressed optimism for the second half of 2025, reflecting the rising adoption of agentic AI—software capable of performing tasks with minimal human input.

Barclays expects Nvidia’s compute revenue to grow in the mid-teens for the October and January quarters, with its Blackwell Ultra chips on track—small volumes arriving by quarter’s end and mass production set for Q3.

The analysts anticipate that the launch of Ultra chips and higher Blackwell shipments will drive an increase in Nvidia's gross margins in the second half of the year. Although the adjusted gross margin fell from 78.9% to 61% in the fiscal first quarter, they expect it to improve as the year progresses.

Why It Matters: Nvidia’s stock has shown significant resilience and growth potential in the past. The company’s market capitalization rebounded to $3.3 trillion in May 2025, following a steep drop earlier in the year. In June, Nvidia overtook Microsoft to become the world’s most valuable publicly traded company, with a market cap of $3.4 trillion.

The company’s AI market leadership and growing opportunities in sovereign AI were showcased at GTC Paris, as noted by a JPMorgan analyst. These factors, coupled with the successful ramp-up of the Blackwell AI platform, underpin Barclays’ bullish outlook on Nvidia.

The revised price target of Barclays is based on increased earnings projections for the next calendar year and a higher valuation multiple in the analysts’ model.

Benzinga Edge Stock Rankings shows that Nvidia has a strong price trend over the short, medium and long term. Its momentum ranking was strong at the 72nd percentile, whereas its value ranking was poor at the 7th percentile; the details of other metrics are available here.