Nvidia Reports Record $96 Billion Revenue and 70% Growth Forecast

Nvidia Corporation reported record fiscal second-quarter revenue of $96.22 billion on August 26, 2026, a 106% increase year-over-year. The results were driven by its data center division, which generated $89 billion. In an unprecedented move, the company issued a long-term forecast projecting 70% revenue growth for fiscal 2028, significantly exceeding the 45% consensus modeled by analysts. This announcement triggered the second-largest one-day market value gain in history, adding approximately $442 billion to the company's valuation.

CEO Jensen Huang stated that AI has reached an "inflection point" where compute is now generating revenue. He highlighted the production of the new Vera Rubin chip line and noted that demand is accelerating across AI labs and startups. However, Huang and CFO Colette Kress warned that growth is currently limited by physical bottlenecks in memory and power, with the company meeting only 70% of customer demand. To offset these constraints and support its ecosystem, Nvidia partnered with six financial firms, including BlackRock and Goldman Sachs, to establish a $500 billion compute financing platform.

Strategic expansions included a deal with Amazon Web Services to deploy 2 million additional GPUs through 2028 and a $105 billion guarantee for an OpenAI-leased data center in Ohio. While some critics labeled these investments as "circular financing," Kress defended the strategy as low-risk. The company also provided third-quarter revenue guidance of $108 billion, though it excluded data center compute revenue from China due to U.S. export restrictions.