Nvidia’s latest earnings have once again shattered expectations, but says financial advisory giant deVere Group, the story is no longer just about one company—it’s about the entire artificial intelligence ecosystem that is surging in its wake.
The AI boom is reshaping global markets, and those looking only at Nvidia risk missing the bigger, more lucrative picture.
The analysis from deVere Group CEO Nigel Green comes as it’s revealed that the tech giant’s revenue soared 78% year over year to $39.3 billion, driven by unrelenting demand for its advanced AI chips.
Its Blackwell series alone contributed $11 billion last quarter, with total data center revenues nearly doubling as major tech firms race to expand their AI capabilities.
Yet, even as Nvidia continues to set records, the real opportunity for investors could now lie beyond its stock.
Nigel Green says: “AI is a genuine revolution – but it’s not a one company revolution. While Nvidia dominates chip design, the infrastructure and applications surrounding AI are experiencing exponential growth.
“Cloud computing providers, semiconductor manufacturers, networking firms, cybersecurity specialists, and software developers are all benefiting from AI’s rapid expansion.
“From hyperscale data centers to edge computing, from AI-driven cybersecurity to automation software, the ecosystem is vast, and the potential is immense.”
A new wave of competition is also reshaping the industry. Chinese AI start-up DeepSeek recently made headlines by claiming it can train sophisticated models on less advanced chips, challenging the status quo. While Nvidia’s CEO, Jensen Huang, dismissed concerns, stating that newer AI models consume even more computing power, the rapid evolution of AI technology suggests that investors must think more broadly.
The deVere Group CEO continues: “It’s increasingly clear that the market won’t be dominated by a single player—it’ll thrive on diversification and innovation across the entire value chain.”
The smart money is already being positioned for the next phase of AI’s expansion, notes Nigel Green.
“Advanced semiconductor firms designing alternative AI accelerators, cloud providers investing heavily in AI infrastructure, and companies developing cutting-edge AI applications are all poised for significant growth.
“The explosion of AI-powered tools in industries from healthcare to finance, from robotics to autonomous systems, is creating new market leaders beyond the chip space.”
Beyond hardware, AI-driven industries are undergoing a paradigm shift. The development of AI software applications is accelerating at a record pace.
Companies that leverage AI to enhance operational efficiency, streamline decision-making, and automate complex processes are seeing significant investor interest.
Industries such as financial services, logistics, and healthcare are harnessing AI’s potential to optimize resources, reduce costs, and drive innovation at an unprecedented scale.
“Investor sentiment is set to shift as the AI revolution matures. Early-stage excitement around a single dominant stock is giving way to a more sophisticated understanding of the broader opportunity,” says the deVere chief executive.
“Just as the internet boom of the late 1990s wasn’t just about one search engine or one e-commerce company, AI’s ascent isn’t just about Nvidia. The companies enabling, scaling, securing, and deploying AI at every level of the global economy are where forward-thinking investors are looking next.”
The stakes are high, and those fixated on Nvidia alone risk missing out.
“The AI economy is accelerating, and while Nvidia’s chips power much of it, the most significant wealth creation will come from the broader landscape it fuels. Those who recognize this now are likely to be the ones capitalizing on AI’s next great wave,” concludes Nigel Green.
deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.
