Nvidia Reports Record $96.2 Billion Revenue and 70% Growth Forecast

Nvidia Corporation reported record fiscal second-quarter revenue of $96.2 billion on August 26, 2026, a 106% increase year-over-year. The company's data center division drove the growth, generating $89 billion. In an unprecedented move to counter investor skepticism, CEO Jensen Huang provided a full-year revenue growth forecast of 70% for fiscal 2028, significantly exceeding the 45% consensus modeled by analysts. The company also guided third-quarter revenue to approximately $108 billion.

To sustain demand amid rising borrowing costs, Nvidia expanded into AI infrastructure financing. The company partnered with six financial firms, including BlackRock and Goldman Sachs, to mobilize over $500 billion in third-party capital by treating GPUs as a financeable asset class. Additionally, Nvidia provided $105 billion in guarantees for an 8-gigawatt data center in Ohio to be leased by OpenAI. While CFO Colette Kress defended these moves as low-risk, critics warned of circular financing where Nvidia effectively funds its own customers to maintain demand.

Despite the record results, the company faces physical bottlenecks in memory, power, and data center capacity. Jensen Huang noted that the company is currently meeting only 70% of customer demand. This supply crunch, combined with rising memory costs, is expected to temporarily narrow gross margins. Following the announcement, Nvidia shares surged over 7% in extended trading, lifting broader technology futures and semiconductor peers.