Nvidia's AI chip sales double, future growth forecast at 70%

cnbc.com

Nvidia reported better-than-expected quarterly results and forecasted 70% revenue growth for fiscal 2028, signaling continued dominance in the AI chip market. For the quarter ending June, revenue more than doubled to $96.22 billion, with net income jumping over 100% to $53.95 billion. CFO Colette Kress confirmed the growth forecast, far exceeding the 44% analysts expected. However, AI makers like OpenAI, Google, AWS, and Meta are developing custom chips, potentially threatening Nvidia's market position. OpenAI's new chip, Jalapeño, reportedly delivers up to 1.9 times more AI work per watt than Nvidia systems, though Nvidia remains the leading tool provider.


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Nvidia's AI chip sales double, future growth forecast at 70% | News Minimalist