NVIDIA Corp. CEO Jensen Huang confirmed Thursday that the semiconductor giant expects chip sales to roughly double in 2027 from 2026.
Speaking at a technology conference in Scotland, Huang reiterated the aggressive growth trajectory previously outlined to investors during the company’s August earnings call, where management characterized its 70% fiscal 2028 revenue projections as a supply-constrained outlook.
Huang also emphasized operational caution, stressing AI safety remains paramount and that unsafe technology should be withheld from commercial markets.
The multitrillion-dollar chipmaker is currently trading within striking distance of its 52-week high of $236, bolstered by massive capital commitments across the artificial intelligence (AI) sector and an unprecedented hardware transition.
Propelling NVIDIA’s is its new Vera Rubin architecture, which has entered full production alongside ongoing deployments of its Blackwell platform. NVIDIA projects Vera Rubin to be the fastest product ramp in corporate history. The platform scales the company’s financial footprint dramatically, expanding its per-gigawatt revenue opportunity to approximately $40 billion, compared to $25 billion for the prior Blackwell generation.
In addition to enterprise data centers, momentum is accelerating in sovereign and enterprise AI initiatives, which Huang described as the invisible half of the business currently doubling in size annually.
Sovereign AI revenue alone jumped 35% sequentially, more than tripling year-over-year. Hyperscaler infrastructure demands continue to swell: AWS plans to deploy an additional two million GPUs through fiscal 2029, while OpenAI’s total computing commitments represent roughly 12 gigawatts of NVIDIA systems.
Meanwhile, specialized neocloud partners are on track to exit the year with eight gigawatts of installed capacity, up from three gigawatts at the end of 2025.
To meet this overwhelming demand, NVIDIA is scaling its supply chain aggressively.
The company’s financial filings reveal that supply obligations swelled to $279 billion, largely driven by memory procurement for Vera Rubin. Management also disclosed guarantee obligations capped at $108.5 billion for AI cloud partners. To finance this buildout, institutional giants including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR are mobilizing over $500 billion in third-party capital for AI infrastructure.
Wall Street analysts have responded by sharply raising their financial models.
Consensus earnings-per-share estimates for the fiscal year ending January 2028 climbed from $12.67 to $15.57 over the past 90 days. Over the last month, the stock saw 39 upward analyst revisions against zero downgrades, with fiscal 2028 revenue consensus now reaching $678 billion.
The optimistic projections build on NVIDIA’s latest quarterly figures, which showed revenue rising 105.8% year-over-year to $96.22 billion, alongside current-quarter guidance of $108 billion. Operating at a market capitalization of approximately $5.29 trillion, NVIDIA currently trades at a forward price-to-earnings ratio of 23.
Shares remain up nearly 18% year-to-date, with Wall Street maintaining a consensus price target of $329.
