Nvidia Surges 8.65% After Forecasting $108 Billion Quarter and 70% Fiscal 2028 Revenue Growth

Nvidia shares jumped 8.65% on August 27, their best single-day gain since April 9, 2025, after the chipmaker reported second-quarter results that surpassed analyst expectations and issued guidance well above Wall Street estimates. The company projected current-quarter revenue of $108 billion, plus or minus 2%, against analyst consensus of $104.2 billion, a figure that would represent roughly 83% growth from a year earlier. CEO Jensen Huang said demand is growing beyond that 70% pace but is constrained by supply, while CFO Colette Kress told investors revenue would jump 70% in fiscal year 2028.

Gross margin guidance of 73.5% to 74.5% came in narrower than analyst estimates, with the compression attributed to rising memory prices. Underscoring the supply pressure, Nvidia disclosed that its supply commitments more than doubled to $279 billion from $119 billion a quarter earlier, primarily for memory procurement. The outlook explicitly excludes any data center sales from China.

The rally was broad enough to lift the S&P 500 and Nasdaq Composite to higher closes Thursday, with technology leading market gains, though breadth remained narrow. Investors also monitored a speech by Federal Reserve Governor Kevin Warsh at the Jackson Hole conference, which tempered the overall advance.