Nvidia Soars on Strong Revenue Forecast Amid AI Spending Concerns

Nvidia's stock surged about 5% after-hours on Wednesday following a strong fiscal 2028 revenue forecast.

Colette Kress, Executive Vice President and Chief Financial Officer of Nvidia, stated that 'The surge in AI demand is driving a global infrastructure buildout, supported by an expanding and diverse set of growth opportunities spanning hyperscalers, AI labs, AI-native enterprises, and sovereign customers…we expect to grow revenue by approximately 70% in fiscal 2028.'

The forecast helped calm investor concerns that AI infrastructure spending might have gotten ahead of itself.