A surging stock market may not need a catalyst — but it's getting one

Just in time, chipmaking juggernaut Nvidia comes a-calling. The company’s report is way at the end of the regular earnings season — nearly a month after Meta’s.Its market cap is $2.3 trillion, and it’s now the third-weightiest stock in the S&P 500 behind Microsoft and Apple. In what might be termed the Nvidia-verse, a whole host of semiconductor companies that either compete with or service Nvidia rise or fall with its shares.

And analysts, by and large, think Nvidia can meet or beat those lofty expectations. Revenue is forecast to have grown by 242% last quarter— and that follows three quarters of triple-digit percentage year-over-year sales increases. But it’s John Vinh of KeyBanc who really got my attention with yet another huge number. He expects data center revenue to climb to $200 billion in calendar 2025. That would represent a 321% increase over 2023.

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