Nvidia Predicts $673 Billion Revenue Growth in Fiscal 2028

Nvidia has issued a surprise revenue forecast for fiscal 2028, predicting a 70% growth in sales. This guidance surpasses Wall Street's average estimate of 44%. If achieved, Nvidia's revenue would reach approximately $673 billion, making it the second-largest US technology firm by revenue, behind only Amazon.

Chief Financial Officer Colette Kress revealed the forecast during an analyst call, stating that customer forecasts point to growth doubling. The company has never guided a full year in advance before, with Jensen Huang attributing this decision to coordinating supply chain efforts and providing visibility into next year's compute requirements.

The forecast is constrained by a global memory crunch, driven by AI construction. Nvidia's CEO, Jensen Huang, acknowledged that demand is greater than 70%, but the company can only confidently deliver that amount due to supply limitations.