GoKawiilAug 27, 2026 • 5 min read
Nvidia forecasts 70% fiscal 2028 growth, implying $673 billion in sales as demand expands beyond hyperscalers despite supply constraints.
Image: Blockonomi
Nvidia is projecting 70% revenue growth in fiscal 2028, which would put annual sales at roughly $673 billion if the current Wall Street consensus for fiscal 2027 holds. That would move the chipmaker ahead of Apple and Alphabet by revenue, leaving only Amazon among US tech companies with higher projected sales.
CFO Colette Kress delivered the forecast on August 26, 2026. It is far above the 44% average analyst estimate tracked by LSEG and marks a change in Nvidia’s disclosure: the company has not previously provided a forecast this far into the future, although CEO Jensen Huang has offered shorter-range indications of expected AI chip demand.
Nvidia’s fiscal 2027 second-quarter results provided the immediate evidence for the outlook. Quarterly revenue reached $96.2 billion, more than double the year-earlier figure, while data-center revenue rose 117% to $89 billion. Nvidia’s shares climbed about 4% in extended trading in one account, while another market report put the session’s high at 5.6%. The difference reflects the trading range reported after the earnings release, not a change to the company’s forecast.
Supply, rather than demand, is now setting the near-term ceiling. Huang said shortages in components including memory prevented Nvidia from making a still higher projection as AI infrastructure consumes a growing share of global chip and memory capacity.
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“Our demand is much greater than 70%. 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.” — Jensen Huang, CEO, Nvidia
Nvidia is broadening its customer base
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