Nvidia Forecasts 70% Revenue Growth as AI Spending Heads Toward $1.3 Trillion
Nvidia has decided to break with its usual practice of providing guidance only for the upcoming quarter and, for the first time, has given investors an outlook for the next fiscal year. The company expects to increase revenue by approximately 70% to $673 billion, which would further cement its position in the Dow Jones index and make it the secondlargest U.S. technology company by revenue, after Amazon. This projection substantially surpasses market expectations based on growth of about 44% and is effectively an attempt to convince the market that the AI boom is far from over. Against this backdrop, Nvidia stock moved higher.