Nvidia revenue more than doubles as it eyes 70% sales growth next year

See more This is Money on Google - save us as a Preferred Source Updated: 03:53 EDT, 27 August 2026 Nvidia last night said its quarterly sales had more than doubled to $96.2billion (£70.8billion) in the latest evidence of the artificial intelligence (AI) boom.The staggering sum, an increase of 106 per cent compared to the same period last year, helped drive profits 126 per cent higher to $59.7billion (£43.9billion). Data centre revenue reached $89billion (£65.5billion), while the group guided for approximately $108billion (£79.4billion) of revenue in the current quarter. Nvidia shares rose 4.7 per cent in post-market trading to $219.53 and if the rally continues into Thursday it could break through the $220 barrier, heading towards the $235 highs last seen in May. Chip giant Nvidia creates semiconductor chips that are at the heart of the worldwide AI revolution.Its results are closely watched by global investors because that transformation – and the prospect it could drive ever higher profits – has propelled US markets to a prolonged rally. Bumper results: Nvidia last night said its quarterly sales had more than doubled to $96.2bnNvidia’s market value has surged to $5.2trillion (£3.8trillion), the highest in the world. The group announced an expansion of its partnership with Amazon's cloud computing unit, Amazon Web Services. The pair will deploy an additional 2million Nvidia graphics processors across Amazon's global infrastructure in 2027 and 2028.Any hint that the business was not meeting the stratospheric expectations placed on it by investors would reverberate through the financial world.Jensen Huang, the Californian firm's founder and chief executive, declared that demand was accelerating as the AI industry had reached a 'golden age'. He added: 'AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue.' Nvidia expects fiscal 2028 revenue to grow by around 70 per cent. But rising memory costs are expected to push gross margins down from 75 per cent to between 71 per cent to 72 per cent in the coming months, the group said. Matt Britzman, an analyst at Hargreaves Lansdown, said: 'Step back from the quarterly noise, and Nvidia remains an extraordinary business that just delivered triple-digit revenue and profit growth while trading at less than 20 times forward earnings.'He added: 'There are legitimate questions around margins, competition, and the returns customers will ultimately earn on their AI spending. 'But the valuation already reflects a healthy dose of scepticism, and that’s the disconnect. 'A powerhouse of a business at a valuation that suggests a material slowdown is coming. We’re comfortable underwriting continued strength in earnings, and while it's not clear when it will come, we think a multiple re-rating is long overdue.'Nigel Green, chief executive of de Vere Group, said: 'Companies this large do not usually hand investors a two-year growth number, because the risk of being wrong is enormous.'Nvidia just did it anyway, and set the bar at 70 per cent. It signals a company that has seen something extraordinary from customers and decided to say so out loud.'Susannah Streeter, chief investment strategist at Wealth Club, said: 'Demand for its Blackwell chips has been particularly significant, showing that customers are continuing to spend heavily on Nvidia’s newest generation of AI accelerators rather than simply filling existing capacity.'DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you