Nvidia Surges as Revenue Forecast Tops Estimates

Nvidia's quarterly revenue more than doubled as the chipmaker forecasted third-quarter revenue above Wall Street estimates, causing its shares to jump over 4% in after-hours trading.

The company expects to deploy an additional 2 million GPUs across Amazon Web Services' global infrastructure by 2027 and 2028 under their expanded partnership.

Nvidia also forecasted a 70% revenue growth in fiscal 2028, exceeding analysts' expectations. The company's margins are being closely watched as it faces production ramp for its Rubin chips and higher memory prices plaguing the silicon supply chain.