Even without AGI, there are a lot of use-cases. A small reminder about the scale of the World. If something brings a 5% boost to the productivity of the World, it has a value of 5 trillion per year.
If AGI was to happen within 5 years it means that Nvidia is heavily underpriced as AGI would have multiples of hundreds of trillions of value.
If we knew for sure that AGI was happening in 5 years, NVIDIA is probably at least 100x under priced.
The companies which productivity this affects would lose value, but it may not directly affect the value of the leader of the technology, if in some other area it still increases productivity. E.g. if Company A is selling a product which to B gives 5% boost, and for C as well, but C does something harmful with it, that makes the rest of the competition to become -5%.
Like arms manufacturers wouldn't lose in value during wartime which is a destructive process for the World as a whole. But if certain weapon allows you to destroy an even opposition then productivity as a whole would decrease by 50%, but the weapon would still have massive value, probably at least 50% of the whole produce.
If there is a simplified World with 2 countries where each produces $50 million of value a year and they go to war. Either of them would be willing to pay anything they have for the weapon since alternative is to be wiped out. Even though after beating the enemy instead of $100 million produced per year, it would be temporarily $50 million.
The value of a weapon would likely be whatever any of them can dish out, so perhaps over $50 million if they have saved up enough.
If AGI was to happen within 5 years it means that Nvidia is heavily underpriced as AGI would have multiples of hundreds of trillions of value.
If we knew for sure that AGI was happening in 5 years, NVIDIA is probably at least 100x under priced.