NVIDIA is forecasting revenue growth of about 70% for fiscal 2028, while Chief Financial Officer Colette M. Kress said supply was expected to remain a bottleneck through at least that year.
At an Aug. 26 earnings call, Kress said customer projections pointed to growth “doubling next year.” She described NVIDIA’s fiscal 2028 revenue-growth outlook as “supply-constrained” and said supply was expected to remain a bottleneck through at least that fiscal year. The 70% figure is a growth rate, not a total-revenue target.
The second quarter of fiscal 2027 closed July 26, 2026, with NVIDIA recording $96.221 billion in revenue. That was a 106% increase from the year-earlier quarter. The Data Center segment generated $89 billion, a 117% rise from a year earlier.
NVIDIA’s fiscal 2027 third-quarter guidance calls for $108 billion in revenue, with a 2% range in either direction. The guidance does not factor in China sales of Data Center compute products. This quarterly estimate is separate from NVIDIA’s fiscal 2028 revenue-growth outlook.
A quarterly filing showed supply and capacity commitments of $279 billion as of July 26, compared with $119 billion at the end of the prior quarter. NVIDIA said it uses those commitments to secure inventory and capacity for demand in coming years.
The earnings-call transcript also identified memory as a source of pressure. NVIDIA said the AI buildout is contributing to memory scarcity and higher prices, which are weighing on gross margins. The company’s outlook therefore reflects both its growth expectations and limits in supply availability and input costs.
