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It's still beating the market by far for the year.
Silver's market value is nearing Nvidia's, with silver's capitalization at $4.22 trillion compared to Nvidia's $4.64 trillion. Silver's price surge is driven by industrial demand, U.S. interest-rate cut expectations, and a weaker dollar. Analysts are bullish on silver's dual role as an industrial metal and store of value. Nvidia has a Strong Buy consensus with a price target of $263.58, indicating a 38.3% upside potential.
It took the market 3 years to do the math on the insatiable AI capex black hole, and specifically that it will require at least$5 trillion in funding over the next five yearsto prevent China from winning the AI war, a realization which came perilously close to bursting the AI bubble.
Nebius Group and Applied Digital have had an amazing 2025.
Investors will get to review the company's latest financial results early in January.