Nvidia Predicts 70% Revenue Growth as AI Computing Booms

Nvidia has forecasted a 70% jump in revenue for its next fiscal year, which ends in January 2028. This growth is well above Wall Street expectations and suggests that the market for AI computing is expanding rather than peaking.

The company's Chief Executive Jensen Huang said 'AI has reached its inflection point' and that 'compute is revenue.' Nvidia's Vera Rubin platform, which started shipping to customers in the current quarter, will account for about a fifth of its overall data center revenue. The platform has seen significant demand, with data center revenue more than doubling to $89 billion in the fiscal second quarter.

Nvidia also announced an expansion of its partnership with Amazon's cloud computing unit, Amazon Web Services, and plans to deploy an additional 2 million Nvidia graphics processors across Amazon's global infrastructure in 2027 and 2028. However, the company warned that supply constraints will continue to limit its growth, including soaring memory prices and higher component costs.