The chart of the week looks at everyone’s new favorite stock, Nvidia. The chart shows Nvidia’s forward earnings growth compared to its stock price growth since the launch of ChatGPT in November 2022. Both Nvidia’s earnings estimates and stock price have surged significantly over this period. By July 2025, forward earnings estimates grew by about 1,136%, while the stock price rose by 964%. One thing that we discuss with clients often is how prices should follow earnings, but usually only over the long term. The chart highlights a consistent upward trajectory for both, though the stock price experienced more volatility than earnings estimates. Overall, the data emphasizes how the AI boom, sparked by ChatGPT, has dramatically fueled Nvidia’s growth.