Nvidia’s 70% growth forecast counters AI doubters as CEO Jensen Huang says “compute is revenue”

Nvidia forecast a 70% jump in revenue for fiscal 2028, signaling sustained AI computing demand despite memory supply constraints, with CEO Jensen Huang declaring "compute is revenue" as AI reaches its inflection point. The outlook far exceeds Wall Street's 44% growth estimate, with quarterly revenue more than doubling to $96.22 billion. Demand is broadening beyond hyperscalers to AI labs, startups, and enterprises, though component shortages limited even stronger guidance. Nvidia's projected $673 billion in fiscal 2028 sales would surpass Apple and Alphabet, trailing only Amazon among U.S. tech firms. China business remains uncertain, with stalled H200 chip deliveries and no China data centre revenue included in the outlook.