Nvidia Projects Fiscal 2028 Revenue Growth of 70 Percent

Semiconductor giant Nvidia forecast a 70 percent revenue surge for fiscal year 2028 during its second-quarter earnings presentation on Wednesday, August 26, 2026. The guidance followed record-setting quarterly revenue of $96.22 billion that beat Wall Street expectations.

The projected 70 percent expansion could push Nvidia's annual sales to $673 billion next year, based on a consensus estimate of $396 billion for fiscal 2027. Wall Street estimates indicate that trajectory would place Nvidia behind only Amazon among U.S. technology companies by revenue.

For the second quarter ending in July, Nvidia reported net income of $59.69 billion, or $2.46 per share, up from $26.42 billion a year prior. Adjusted earnings reached $2.22 per share, surpassing analyst predictions of $2.10. Revenue more than doubled year-over-year to $96.22 billion, led by $89 billion in data center sales.

Quarterly operating expenses rose 55 percent to $8.41 billion. For the third quarter of fiscal 2027, management projected revenue of approximately $108 billion, topping Wall Street expectations of $103.77 billion to $104.86 billion.

Executive leadership addressed the supply constraints affecting component availability during the call with investors.

"Although we will work to close the supply-demand gap, we expect supply to remain a bottleneck," said Colette Kress, Chief Financial Officer at Nvidia, noting the constraint would persist through at least January 2028.

The company noted that the cloud-industry backlog now exceeds $2 trillion and stated it is introducing financing options with financial institutions to attract non-hyperscaler enterprise clients.

Nvidia Chief Executive Officer Jensen Huang highlighted the changing market dynamics behind the surging demand for artificial intelligence hardware.

"A.I. has reached its inflection point," said Jensen Huang, Chief Executive Officer at Nvidia.

Huang further detailed the shift toward a broader customer base during the conference call.

"Our demand is much greater than 70%," said Huang. "Our supply allows us to confidently deliver 70%, and we're going to continue to work with our supply chain to increase on on that."

The Chief Executive Officer noted that computer infrastructure requirements prompted the long-term outlook for industry partners.

"Everybody's putting a lot of resources in play, and so we wanted to make sure that everybody has the same set of information," said Huang.

Huang emphasized that customer adoption has expanded significantly compared to earlier buildout phases.

"Demand is accelerating," said Huang. "This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online — with strong momentum across the U.S. and around the world."

He also pointed to emerging enterprise segments, including regional artificial intelligence firms and startups, as primary drivers of future growth.

"That part of the the world's computing is likely to be larger over time than even what we're currently experiencing in the cloud, and I think the the demand that we see is driven by all of those factors," said Huang.

Nvidia stock surged nearly 5 percent in after-hours trading following the revenue forecast and quarterly report.