AI superstar Nvidia could eclipse India’s entire market cap if Cantor’s target price is met

Nvidia Corp, already a $4.3 trillion giant that has doubled in value in just 16 months and looms larger than the stock markets of the U.K., China and Canada, could soon eclipse the entire Rs 5.21 trillion Indian equity market if its shares reach Cantor Fitzgerald’s new $240 price target.

Fueled by its dominance in artificial intelligence (AI) chips, Nvidia last month became the first company to cross $4 trillion in market capitalization. Its market value is now only about $1 trillion below Japan’s Nikkei 225 index, the world’s second-largest stock market after the United States. The company also accounts for 4.94% of the MSCI All Country World Index, nearly matching Japan’s 4.97% share.