Nvidia shares jump 7% on strong growth forecast

Nvidia shares rose about 7% in premarket trading Thursday after the company reported earnings and forecast 70% revenue growth for fiscal 2028, far exceeding analyst expectations of 45%. The chipmaker's data center revenue reached $89 billion, up 117% year-over-year, while total quarterly revenue hit $96.2 billion. CEO Jensen Huang said demand exceeds supply, making the forecast supply-limited, and the company increased supply commitments to $279 billion. At least 10 brokers raised price targets following the announcement. Nvidia trades at roughly 17.9 times expected earnings, below AMD's 37.2 and Intel's 46.2, though margins are expected to decline from 75% to 71-72% by late fiscal 2027 due to higher memory costs.