Nvidia has been one of the greatest growth stocks of all time. Over the last five years, it has risen about 1,300%, turning $1,000 into $14,000.
Looking for the next Nvidia? That could be challenging as stocks like this are rare, but here are three shares with significant potential to check out.
Exploring Nvidia’s success
Before I list the stocks, it’s worth quickly exploring Nvidia’s success. What has driven it?
Well, in short, it’s had market-leading products (chips) in a huge growth industry (AI). This had led to spectacular revenue and earnings growth.
The low-altitude economy is about to take off
Looking at things through that framework, one stock worth highlighting is Joby Aviation (NYSE: JOBY). It’s a leader in all-electric, vertical take-off and landing (eVTOL) aircraft (aka ‘flying cars’).
This stock is insanely speculative. Because right now, flying cars aren’t exactly a mainstream concept.
But things could change quickly. In the years ahead, the ‘low-altitude economy’ (activity below 1,000 metres) is projected to see enormous growth. According to Business Aviation, the industry could be worth $41.5bn by 2035.
It’s worth noting that Joby – which is heavily backed by Toyota – has a working product called the Joby S4. This is an air taxi designed to carry four passengers.
Now, the valuation here is crazy. Currently, it has a market cap of $15bn but a 2026 sales forecast of just $53m.
Still, I think it could be worth a look as a highly speculative investment. In the long run, it could deliver explosive returns.
The nuclear industry is booming
Another industry that looks set to boom in the years ahead is nuclear energy. Today, both governments and companies are looking at nuclear as an alternative to fossil fuel energy.
A stock in this industry that looks interesting to me – and is flying right now – is BWX Technologies (NYSE: BWXT). It’s a specialty manufacturer of nuclear components.
This company offers products for small modular reactors (SMRs) and advanced reactors, naval nuclear reactors, nuclear fuels, and more. So, it could potentially play a major role in the nuclear revolution.
One thing I like about it is that it’s already profitable. This reduces risk for investors.
It’s still risky as there are no guarantees that nuclear energy will take off. Still, I think it’s worth a closer look today.
An autonomous driving and humanoid robotics play
Finally, check out Hesai Group (NASDAQ: HSAI). It’s a global leader in LiDAR technology.
Looking ahead, this company appears well positioned to benefit from the growth of two industries – self-driving cars and humanoid robotics. Over the next decade, these industries are expected to explode.
Note that today, the company has partnerships with businesses in both of these industries. And it’s already seeing huge revenue growth.
This stock is really risky as it’s a Chinese ADR. So, risks include restrictions on the use of its products in the US and the possibility of a US de-listing.
I think it looks really interesting, though. I bought a small position myself recently as a ‘moonshot’ growth stock and I think it’s worth a look.
Big potential
I’ll point out that I don’t expect any of these companies to become the largest in the world, like Nvidia has. But, taking a long-term view, I see the potential for substantial gains.
