Nvidia forecasted third-quarter revenue of $108 billion, exceeding Wall Street's $104 billion estimate, while projecting fiscal 2028 revenue growth of approximately 70%. The stock jumped more than 4% in after-hours trading.
Nvidia's strong guidance underscores sustained demand for its AI processors, which have driven the company's exceptional growth trajectory.
The $108 billion Q3 forecast represents significant momentum as the chipmaker continues to capitalize on the artificial intelligence boom. The beat against consensus estimates signals that demand for Nvidia's graphics processing units remains robust across data center customers and enterprises building AI infrastructure.
The projected 70% revenue growth for fiscal 2028 provides investors with clarity on the company's long-term expansion prospects. This guidance reflects management's confidence in sustained AI adoption and the durability of Nvidia's market position.
Nvidia's quarterly revenue more than doubled in the most recent period, demonstrating the magnitude of demand for its specialized chips. The company has benefited from its dominance in providing the hardware foundation for large language models, generative AI systems, and enterprise machine learning deployments.
The after-hours stock movement reflects positive market reception to the forward guidance. Nvidia's ability to consistently exceed expectations and raise outlooks has made it a bellwether for AI spending trends across the tech industry.
The chipmaker faces ongoing competitive pressures from other semiconductor firms and potential custom silicon development by cloud providers. However, current guidance suggests these factors have not materially impacted demand for Nvidia's offerings.
The strong forecast also indicates that supply constraints, which previously limited Nvidia's revenue potential, have eased sufficiently to meet customer demand. This supply normalization, combined with persistent AI investment, supports the company's growth projections.
Amazon Web Services plans to deploy 2 million Nvidia Blackwell Ultra, Rubin, and Rubin Ultra GPUs across its data centers in 2027 and 2028, expanding its AI infrastructure beyond the 1 million GPUs announced in March.
Nvidia has agreed to acquire Hugging Face, the popular open-source AI model repository, for $12.9 billion. The deal consolidates Nvidia's control over critical infrastructure in the generative AI ecosystem.
Nvidia projects $108 billion in quarterly revenue within months, joining Amazon, Apple, and Alphabet as companies exceeding the $100 billion quarterly milestone. The chipmaker's latest earnings show record momentum driven by AI demand.
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