Nvidia Surpasses Expectations with 70% Sales Forecast, Eyes Major Acquisition

Nvidia's strong earnings report exceeded market expectations, with a forecast-beating projection of a 70% sales increase in fiscal 2028. This puts the AI giant ahead of Apple and Alphabet, and behind only Amazon among US tech companies.

The company's CEO, Jensen Huang, stated that 'our demand is much greater than 70%' but that they are confident in their supply chain to deliver 70% growth.

Nvidia is also reportedly looking to make a major acquisition, with talks underway to buy Hugging Face for around $13 billion.

Anthropic has agreed to a $45 billion cloud deal with Nscale, a UK-based AI infrastructure company, and Meta has reached a $16.7 billion settlement with state attorneys over allegations of child mental health harms caused by its apps.