Nvidia's 70% Growth Forecast Puts It on Track to Become Tech's No. 2 Company by Revenue
"Our demand is much greater than 70%," CEO Jensen Huang said on the earnings call.
TL;DR
- Nvidia forecast 70% revenue growth for fiscal 2028, exceeding Wall Street expectations.
- Projected fiscal 2028 revenue of $673 billion could place Nvidia second among U.S. tech companies.
- Demand for Nvidia's AI technology is broadening beyond large hyperscalers to include regional AI companies, startups, and enterprises.
- Supply constraints, particularly in memory, are currently limiting even higher growth.
- CEO Jensen Huang cited visibility into computing power needs and a desire for consistency with partners as reasons for the long-term forecast.