Nvidia forecasts fiscal '28 revenue growth of 70%, soaring past estimates: Live updates - CNBC
Nvidia reported strong fiscal second-quarter results and issued optimistic revenue guidance for 2028, driven by the ongoing artificial intelligence boom. Despite the growth, the company noted potential risks including supply constraints and rising competition.
Why it matters
As a leader in AI hardware, Nvidia's financial performance is a key indicator of the health and trajectory of the global artificial intelligence industry.
Nvidia reported better-than-expected fiscal second-quarter results and issued revenue guidance that topped estimates. The stock jumped 4% on the company's forecast for next fiscal year.
Here's how the company did versus analysts' expectations, according to LSEG.
Nvidia sits at the center of the artificial intelligence world and has grown fiercely on the back of the AI boom.
The company's chips have been used to build and serve the most advanced AI models, and increasingly Nvidia is providing financial support through backstops and other arrangements that allow new AI data centers to get funded and built.
Almost four years since the launch of OpenAI's ChatGPT, Nvidia is still seeing massive growth, with revenue more than doubling in the latest quarter from $46.7 billion a year earlier.
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