Nvidia Forecasts 70% Revenue Growth by Fiscal 2028, Exceeding Wall Street Expectations
Nvidia (NASDAQ: NVDA) has provided an unusually long-term revenue forecast of 70% year-over-year growth for fiscal 2028—well above the 44% expected by analysts. The guidance was given during its Q2 earnings call, with CFO Colette Kress noting that supply constraints are limiting this figure and suggesting even higher potential if bottlenecks ease. The credibility of this forecast is bolstered by a major order from Amazon (NASDAQ: AMZN), which has agreed to purchase 2 million GPUs over the next two years. This deal, combined with the rollout of Nvidia’s new Vera Rubin architecture—which includes both CPUs and GPUs—has generated excitement among key clients like Amazon and even Elon Musk. Nvidia's recent performance supports its ambitious target; it achieved a 106% revenue increase in Q2 fiscal 2027. The company is also benefiting from strong demand for memory chips, with Samsung (OTC: SSNLF) securing long-term contracts through 2031.
Topics: Amazon partnership GPU orders Nvidia growth revenue guidance