NVIDIA forecasts 70% fiscal 2028 revenue surge on AI demand
NVIDIA is predicting a huge 70% revenue boost for fiscal 2028, way above what analysts expected.
The surge comes from sky-high demand for its AI chips, which power everything from data centers to big tech like Amazon and Google.
CFO Colette Kress shared that "Incredibly, we are seeing demand acceleration even at our scale," and growth could be even bigger if they can ramp up supply.
The upbeat forecast sent NVIDIA's stock up more than 4% in after-hours trading.
NVIDIA Q2 $96.2B, margins to 71%-72%
NVIDIA's AI chips are now essential for training and running advanced models across the tech world.
In the second quarter alone, NVIDIA's sales pulled in $96.2 billion, beating estimates by a solid margin.
But it's not all smooth sailing: rising memory costs are squeezing profits, with margins expected to dip to around 71% to 72% soon.
To keep up with demand (and costs), NVIDIA has raised prices and is constrained by supply, including rolling out its new Vera Rubin chip line to meet the global AI rush.