Wall Street Analyst Predicts This Company Will Overtake Nvidia

The Nvidia stock benchmark is back at the center of the market cap debate after one Wall Street analyst, Andrew Beale, posited that SpaceX could eventually become the world’s biggest company. The fresh call comes after SpaceX’s public debut on June 12 and a wild first week that pushed the company into the top tier of global market values. 

Nvidia’s Momentum Is Still Unmatched

Nvidia’s trajectory has been nothing short of phenomenal as the company has cornered the chip market. In its February 25, 2026, earnings release, Nvidia said fiscal 2026 revenue reached $215.9 billion, up 65% year over year, with fourth-quarter revenue of $68.1 billion and data-center revenue of $62.3 billion. The company also said it expected fiscal first-quarter 2027 revenue of $78 billion, plus or minus 2%, and revealed that it was not assuming any data-center compute revenue from China in that outlook.

The sheer scale of Nvidia’s operation matters because it explains why the company remains the market’s measuring stick. Reuters reported in late February that the company beat estimates and that investors were watching whether the AI spending cycle would keep feeding chip demand that has made it the most valuable company in the world.  Nvidia’s market value continued climbing with the broader AI rally, and market-cap trackers placed the company at around $5.1 trillion in mid-June, a new record.

SpaceX, by contrast, is still being priced on a mix of current business strength and long-dated promises. Back on June 16, the company had briefly passed Amazon and even topped Microsoft intraday after frenzied trading triggered an over 10% increase in a single day. SpaceX’s price surge was spurred on by the fact that only about 4% of shares were available to trade, meaning there was less supply than demand.

However, SpaceX could not sustain this trend for long, as enthusiasm quickly reversed. SpaceX shares are now down about 40% from their all-time high, even after the IPO frenzy and options-driven volatility. This is where the comparison between Nvidia and SpaceX starts to get interesting. 

On its part, Nvidia’s trajectory is tied to actual quarterly delivery, while SpaceX is still being valued on what its businesses could become. This paints two very different pictures of these two different companies. But shows no reason that could really drive SpaceX above Nvidia besides speculation.

Nevertheless, Beale believes that SpaceX has the potential to take over as its business expands. The analyst expects the SPCX stock price to more than double in the next year and reach a $401 target. This move would put SpaceX above a $5 trillion valuation, ahead of Nvidia.

For now, SPCX continues to battle the post-IPO valuation ‘curse,’ which has historically seen IPO stocks fall an average of 55% below their listing price in the first year. With less than one month gone in the stock market, SpaceX still has a long way to go when it comes to stabilizing its stock price and finding its footing in the market.