Nvidia is forecasting approximately 70% revenue growth for its fiscal 2028, delivering one of the strongest signals yet that global spending on artificial intelligence infrastructure could remain elevated for years, according to Reuters and Financial Times. The projection comes as the chipmaker continues to benefit from enormous demand for processors powering AI models and data centres.
Nvidia reported $96.2 billion in second quarter revenue, more than double the figure from a year earlier, while its data centre business generated about $89 billion. The company expects revenue of roughly $108 billion in the following quarter, reflecting continued demand from major cloud providers and AI laboratories.
The outlook also points to growing demand for Nvidia’s next generation Vera Rubin platform, which the company expects to account for around 20% of data centre revenue in the current quarter. Nvidia is expanding partnerships with major technology companies, including Amazon Web Services, which plans to deploy up to 2 million Nvidia GPUs by 2028.
For investors, the forecast offers a powerful rebuttal to concerns that the AI spending cycle could be approaching a peak. Nvidia’s leadership argues that AI has moved beyond experimentation into commercially productive workloads, meaning demand for computing capacity could continue expanding as companies build increasingly sophisticated AI systems. However, memory shortages, rising component costs and uncertainty around China sales remain key risks to the company’s growth trajectory.
