Nvidia forecasts year-ahead revenue, aims to surpass Apple and Alphabet

Nvidia just did something it has never done before: tell Wall Street what the next full year looks like. And the number is staggering. The company’s fiscal second-quarter earnings, reported on August 26, revealed $96.2 billion in revenue, a 106% jump from the same period last year. But the real headline came from CFO Colette Kress, who issued Nvidia’s first-ever year-ahead revenue forecast, projecting approximately 70% growth for fiscal 2028. That translates to roughly $673 billion in annual revenue, a figure that would leapfrog both Apple and Alphabet, leaving Nvidia trailing only Amazon in the corporate revenue rankings. The numbers behind the AI juggernaut Wall Street had been modeling around 44% revenue growth for Nvidia’s next fiscal year. The company’s own guidance nearly doubles that estimate. Data-center revenue, the engine powering this entire run, hit a record $89 billion in Q2 alone. That segment now accounts for 89% of Nvidia’s total revenue, up 117% year over year. For the current quarter, Nvidia guided Q3 revenue to $108 billion, give or take 2%. Gross margins are expected to hold around 74% in Q3 before drifting down to 71-72% in subsequent quarters. The strategic de...