Nvidia shares rise as revenue forecast tops estimates

Nvidia’s quarterly revenue more than doubled, and the chipmaker forecast third-quarter revenue of $108 billion, plus or minus 2%, above analysts’ average estimate of $104.19 billion. Shares reversed course in after-hours trading to rise more than 4%, with investors responding to a growth plan that includes expected revenue growth of about 70% in fiscal 2028.

Nvidia also expanded its partnership with Amazon Web Services, with the companies set to deploy an additional 2 million Nvidia GPUs across Amazon’s global infrastructure in 2027 and 2028. The results underscored its role as a bellwether for AI infrastructure demand, as major technology companies are expected to spend more than $730 billion on AI infrastructure this year after last year’s $400 billion outlay.

China remains a major uncertainty, and Nvidia said its outlook assumes no data center chip sales from the country. The company is also facing rising competition in inference from central processors, custom chips from large technology companies, and offerings from Intel, AMD and Chinese firms such as Baidu.

Second-quarter revenue rose to $96.22 billion, beating estimates of $92.17 billion, while adjusted profit was $2.22 per share against estimates of $2.10. Data center revenue reached $89 billion, ahead of estimates of $85.08 billion, extending a streak of sales beats over the past 15 quarters even as the margin of outperformance has narrowed.