Nvidia projects 70% revenue growth in 2028
Summary
Nvidia reported revenue of $96.2 billion and net income of $59.7 billion, surpassing expectations for its latest quarter. The company expects to earn $108 billion in its next quarter, marking the first time it could exceed $100 billion in revenue.Key Facts
- Nvidia’s revenue more than doubled compared to the same period last year.
- Net income increased by 126% to $59.7 billion.
- Revenue from data centers rose 117% to $89 billion, the largest part of sales.
- Nvidia’s next quarter revenue forecast is $108 billion, plus or minus 2%.
- The company’s stock fell slightly after the earnings report despite strong results.
- Nvidia is investing in AI infrastructure and supporting OpenAI data centers.
- CEO Jensen Huang says many AI labs and startups are growing at the same time.
- Nvidia’s stock is still up 11% for the year despite recent losses.
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