Nvidia Aims for Jaw-Dropping 70% Revenue Growth in Fiscal 2028
Nvidia's CFO Colette Kress recently announced that the company expects to see 70% year-over-year revenue growth in its fiscal 2028, far exceeding Wall Street's expectations of 44%. This guidance marks a rare instance where a company has provided a two-year outlook. The forecast takes into account supply constraints, and absent these bottlenecks, Nvidia's revenue could potentially double.
The recent order by Amazon for 2 million GPUs to be delivered across 2027 and 2028 adds credibility to the 2028 forecast. The Vera Rubin architecture, which includes both CPUs and GPUs, has started shipping, with its sales acceleration expected to show up in Nvidia's fiscal 2028.
Nvidia is not new to rapid growth, having more than doubled its sales year-over-year in its fiscal 2027 second quarter. Despite being a giant in the industry, the company still manages to achieve impressive revenue growth. The Vera Rubin platforms' rollout and strong financial results suggest that Nvidia can hit its ambitious target of 70% year-over-year revenue growth in its fiscal 2028.