<div id="readability-page-1">Nvidia (NVDA -0.26%) has made an incredible ascent to the top of the stock market, and it's in a league of its own as the only stock with a market cap above $4 trillion. It's up 1,300% over the past five years, and it doesn't look like it's anywhere near done. Its growth prospects are up for debate amid increasing competition and its sheer size, which makes it harder to report high percentage growth. Still, there are many reasons to believe in Nvidia's future. Here's one reason investors still have time to buy Nvidia stock. <div><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MTQvcGVyc29uLWluLWEtZGF0YS1jZW50ZXIuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="476" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI3MTQvcGVyc29uLWluLWEtZGF0YS1jZW50ZXIuanBnJnc9NzAw"/>Image source: Getty Images. </div> <h2>Hyperscalers are spending</h2> There are several ways to envision Nvidia's opportunity, and one of them is to analyze how its largest clients are spending money on its products. Nvidia works with the largest cloud operators in the world, the hyperscalers like Amazon, Microsoft, and Meta Platforms. These companies are building out their large language models (LLM) and offering top artificial intelligence (AI) solutions to their millions of customers, who in turn are using these platforms to create the next generation of generative AI apps. This is the AI revolution that's changing how people do business, shop, pay, and more, and these hyperscalers need Nvidia's powerful chips to drive their AI models. Just take a look at how much these three companies are spending this year on capital expenditures, and you can see how Nvidia's business is going to be a crucial part of this process for the foreseeable future. Amazon is spending at a run rate of $120 billion, Microsoft at $100 billion, and Meta at about $65 billion. These are accelerations from last year, and as companies require more power, those numbers are likely to keep going up. Nvidia doesn't collect every dollar of these sales, but it dominates this market. I wouldn't bet on Nvidia offering the same kind of growth it has in the past over the next five years, but it's still likely to beat the market and offer value for shareholders. </div>

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Nvidia (NVDA) has seen a remarkable rise, boasting a market cap over $4 trillion and a 1,300% increase in five years. Despite challenges from competition, its future remains promising, particularly due to significant spending by major clients like Amazon, Microsoft, and Meta on AI technologies. These companies are investing heavily in capital expenditures, which bodes well for Nvidia's growth as they rely on its powerful chips for their AI models. While Nvidia may not replicate past growth rates, it is expected to outperform the market and provide value to shareholders.

- Nvidia has reached a market cap exceeding $4 trillion, with a 1,300% increase over the past five years.  
- The company's growth prospects are supported by significant spending from major clients like Amazon, Microsoft, and Meta, who are investing heavily in AI technologies.  
- While Nvidia may not replicate its past growth rates, it is expected to outperform the market and provide value for shareholders in the future.  

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Think It's Too Late to Buy Nvidia (NVDA)? Here's the 1 Reason Why There's Still Time