Nvidia shares rose in early trading after management said demand is accelerating even at the company's scale. The chipmaker said fiscal 2028 revenue will grow about 70%, versus analyst expectations of 44%. Second-quarter revenue reached a record $96.2 billion, and Nvidia guided the current quarter to about $108 billion. The stock, which initially fell 3% after the report, jumped 7.1% at the open, adding $359 billion in value.
Nvidia said supply will remain a bottleneck through at least the end of fiscal 2028 even after it raised commitments tied primarily to memory procurement to $279 billion from $119 billion. It guided third-quarter gross margin to 74% plus or minus 50 basis points and said margins will bottom at 71% to 72% in the fourth quarter before settling at 72% to 73% in fiscal 2028, as memory costs rise during the Vera Rubin ramp. The outlook also boosted tech stocks and key equity indexes Thursday morning.
Key sources
- SOURCE@coindesk“sending $NVDA up 8% premarket.”x.com
- SUPPORT@dnystedt“We see Vera Rubin accounting for about 20% of data center revenue in Q3.”x.com
- SUPPORT@globalmktobserv“guided Q3 gross margin to just 73.5-74.5%, missing analyst estimates of 75%”x.com
- SUPPORT@deitaone“PT raised to $400 from $315 by Bernstein SocGen Group”x.com
- SUPPORT@business“providing a boost to tech stocks and lifting key equity indexes Thursday morning”x.com
- SUPPORT@deitaone“NVIDIA JUMPS 7.1% AT THE OPEN, ADDING $359 BILLION IN VALUE”x.com
- SOURCE@reuters“shares rose nearly 5% in extended trading after they initially dipped over 1%”x.com
- SUPPORT@techmeme“forecasts Q3 revenue of $108B, above a $104B estimate”x.com