During an earnings call, Nvidia's CFO Colette Kress revealed a forecast for fiscal 2028 that anticipates a remarkable 70% revenue growth, surpassing the average analyst estimate of 44%. This projection suggests that Nvidia's revenue could reach $673 billion, placing it ahead of major players like Apple and Alphabet, and only behind Amazon in the tech sector.
The company's recent performance has been bolstered by a doubling of revenue in the latest quarter compared to the previous year, although supply constraints, particularly in memory components, have limited potential growth. CEO Jensen Huang emphasized that while demand exceeds 70%, current supply capabilities allow for this conservative estimate.
He noted a shift in customer demographics, with a broader base of companies now investing in AI, moving beyond reliance on a few large hyperscalers. Huang highlighted the emergence of a new category of customers, termed ACIE, which includes regional AI firms and startups, indicating a growing market for Nvidia's technology.
The company has also initiated a financing program to assist these customers in acquiring its high-demand systems. Huang believes that this expanding customer base will drive even greater growth in the future, potentially surpassing current cloud computing demands