Prediction: This Hypergrowth Stock Will Be the First $10 Trillion Stock (Hint: It's Not Nvidia)

While Nvidia, currently the world's largest company at $4.5 trillion, is widely expected to reach a $10 trillion market cap due to its AI semiconductor leadership, it faces rising competition and anticipated revenue growth deceleration. However, Oracle, with an $835 billion market cap, is emerging as a strong contender to achieve the $10 trillion milestone sooner, driven by its critical AI data center infrastructure and rapidly expanding Remaining Performance Obligations (RPO). Oracle's RPO surged 359% year-over-year to $455 billion and is projected to exceed $750 billion following a $300 billion deal with OpenAI, alongside 1,529% growth in its multicloud database revenue, signaling a robust long-term revenue pipeline and accelerating future growth.

Analysis

Nvidia, currently the world's largest company at $4.5 trillion, faces increasing competition from Broadcom and AMD, potentially challenging its path to a $10 trillion valuation despite its AI semiconductor dominance. In contrast, Oracle, valued at $835 billion, has seen its stock surge 76% in 2025, significantly outperforming Nvidia's 36% gain, positioning it as a strong contender for the $10 trillion milestone.

Oracle's future growth is strongly indicated by its rapidly expanding Remaining Performance Obligations (RPO), which surged 359% year-over-year to $455 billion in Q1 FY26. This figure is projected to exceed $750 billion following a new $300 billion, five-year deal with OpenAI, with management anticipating RPO to approach $1 trillion. These substantial contracts signal a robust and accelerating revenue pipeline.

The company's multicloud database services also demonstrated exceptional growth, with revenue increasing 1,529% in the fiscal first quarter. Oracle plans to expand its multicloud data center count from 34 to 71, capitalizing on the AI-focused cloud computing market, forecast to reach $3.7 trillion by 2034, solidifying its critical role in AI infrastructure.

Given these developments, Oracle's revenue is projected to grow at an annual rate of 40% post-fiscal 2028, potentially reaching $645 billion by 2033. This trajectory, combined with a potential price-to-sales ratio of 16, suggests Oracle could achieve a $10 trillion market cap, potentially outpacing Nvidia's anticipated growth deceleration.

Key Decisions for Investors

• Investors should re-evaluate AI-centric portfolio allocations, considering Oracle's accelerating growth and strategic positioning in AI infrastructure as a potential alternative or complement to pure-play semiconductor exposure.
• Monitor Oracle's Remaining Performance Obligations (RPO) and multicloud data center expansion, as these metrics are critical indicators of its long-term revenue pipeline and market share gains in the high-growth AI cloud sector.
• Assess Oracle's current valuation multiples against its projected 40% annual revenue growth and the expanding AI cloud market, considering the potential for multiple expansion as its growth trajectory accelerates.