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Nvidia Projects 70% Revenue Surge, Aiming for Second-Largest Tech Spot
Electronic Technology · Semiconductors · cnbc · 2026-08-27
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Nvidia forecasts a massive 70% revenue growth for fiscal 2028, potentially positioning the chipmaker as the second-largest U.S. tech company by revenue.
What Happened
Aggressive Revenue Guidance: Nvidia has issued a bold forecast for fiscal 2028, projecting a 70% increase in revenue that significantly outpaces the 44% average analyst estimate. If realized, this trajectory would push annual sales to approximately $673 billion, placing the company behind only Amazon in terms of total revenue among U.S. technology firms.
Supply Chain Constraints: Despite the optimistic outlook, CEO Jensen Huang noted that the company's growth is currently limited by supply chain bottlenecks rather than demand. Shortages in critical components, such as memory, have capped the growth rate, though management is actively working with partners to expand capacity to meet the overwhelming market appetite.
Broadening Customer Base: While early AI infrastructure development was dominated by a single major laboratory, Nvidia now reports a diverse and accelerating demand profile. The company is seeing significant traction from regional AI firms, startups, and enterprise clients, which Huang categorizes as a new, previously invisible segment of the computing market.
Strategic Transparency: Management provided this long-term forecast to ensure consistency across the broader AI ecosystem, including partners involved in data center land and power development. By offering greater visibility into future computing needs, Nvidia aims to align its growth strategy with the massive capital investments being made by its global customer base.