NVDA is valued at $3.5 trillion, which means investors think it will grow to around $1 trillion in yearly revenue. Current revenue is around $35 billion per quarter, so call it $140 billion yearly. Investors are betting on a 7x increase in revenue. Not impossible, sounds plausible but you need to assume AMD, INTC, GOOG, AMZN, and all the others who make GPUs/TPUs either won't take market share or the market will be worth multiple trillions per year.