Been thinking about something interesting in today's stock markets news: Nvidia's sitting at $4.5 trillion in market value right now, which is absolutely massive. But here's the thing – a decade is a long time in finance. Competitors catch up, customers build their own solutions, and valuations that have shot up this high eventually meet reality.

Let me talk about two stocks I actually think could be worth more than Nvidia by 2036, assuming Nvidia's hypergrowth eventually normalizes like most companies do.

Alphabet's position is fascinating when you really dig into the stock markets news around AI infrastructure. Everyone focuses on Nvidia's chips powering the boom, but Alphabet is simultaneously one of Nvidia's biggest customers AND building its own path forward. Google Cloud is pumping billions into data centers and AI servers, and the company's capital expenses are roughly doubling from $91 billion to around $180 billion in 2027.

Here's what people might miss: Alphabet isn't locked into Nvidia's hardware forever. They've already developed custom AI accelerators in partnership with Broadcom and Taiwan Semiconductor. These Tensor chips are specifically designed for Google's AI workloads, and they're planning to sell them to other hyperscalers too. Pretty much every serious AI player is considering in-house chip designs at this point. That's going to pressure Nvidia's premium pricing eventually.

Meanwhile, Google Cloud's revenues have more than tripled over the last three years. They went from barely breaking even at the end of 2022 to $5.3 billion in operating profit by Q4 2025. That's not a side project anymore – that's real money.

Alphabet also has this umbrella structure that lets them run completely different businesses under one roof. Waymo's self-driving taxis could be the next major revenue stream. The company just issued a 100-year bond as part of their AI infrastructure funding. Think about that for a second. They're literally betting on themselves existing for a century.

The math is pretty straightforward for stock markets news watchers. Alphabet's at $3.7 trillion market cap, only 20% behind Nvidia. If Nvidia grows at 11.5% annually over the next decade while Alphabet hits 14%, they'd end up roughly tied around $13.5 trillion each. Small differences compound into massive gaps over 10 years.

Then there's Berkshire Hathaway, which is basically the poster child for boring compounding creating blockbuster results. They'd need 29% annual gains to catch Nvidia in a decade, which is unrealistic. But if Nvidia's growth slows and Berkshire hits 15% yearly, they'd reach where Nvidia is today – around $4.4 trillion. That's basically the S&P 500's average performance, and it's actually what Berkshire has delivered over the last 10 years under Buffett.

Here's my take on the stock markets news angle: Berkshire might not actually pass Nvidia by 2036. But I expect it to keep climbing steadily while Nvidia's stock bounces around like crazy. Nvidia's dominance is real right now, but Berkshire's diversified model – insurance, utilities, manufacturing, railroads – should keep it relevant and profitable for decades. Nvidia's concentrated bet on AI chips? I can't say the same thing about that.

Even if Berkshire falls short of overtaking Nvidia's market cap in the next 10 years, getting close would still make plenty of money for patient investors. The insurance conglomerate should keep thriving long after that checkpoint.

The bottom line: today's stock markets news focuses on Nvidia's dominance, but valuations this extreme don't stay extreme forever. Over 10 years, I'd rather own a company with multiple growth engines like Alphabet or the steady compounding machine that Berkshire represents.