Nvidia sales double but investors focus on future growth

Nvidia reported quarterly revenue of $96.2 billion, a 106% increase from a year ago, beating expectations, but shares only rose after executives projected stronger future growth. Chief Financial Officer Colette Kress told investors the company expects fiscal 2028 income to grow by 70%, far exceeding the 45% analysts had forecast. Data center sales reached $89 billion, up 117% year-over-year. Nvidia also announced an expanded deal with Amazon for two million additional GPUs. Concerns persist over its circular financing strategy, where investments in other firms help fund AI infrastructure purchases, potentially inflating demand.