New Delhi, Nov. 2 -- Chipmaker Nvidia, the biggest beneficiary of the artificial intelligence (AI) boom, became the world's first company to hit a $5 trillion market cap this month. Analysts now project its valuation could soar to $8-10 trillion by the end of the decade. But with doubts growing over the profitability of generative AI (GenAI) and agentic AI projects, and Big Tech's massive cash burn, are these forecasts realistic or signs of a looming AI winter?

We examine how sustainable the surge really is.

Nvidia's rise has been meteoric. The chipmaker crossed a $1 trillion market cap in May 2023, doubled to $2 trillion by February 2024, touched $3 trillion in June 2024, and overtook Apple and Microsoft at $4 trillion in July 2025 bef...