Nvidia’s Huang guides to roughly 70% growth and repeats a multitrillion-dollar build forecast

Nvidia chief executive Jensen Huang said he expects roughly 70% revenue growth next year, driven by continued demand for AI infrastructure and in the face of competition^2,4. The Motley Fool reported that Huang guided for roughly 70% sales growth and strong margins in the next fiscal year, and noted Nvidia is winning business outside its core market⁵. TechCrunch carried the same guidance, that Huang had explained why Nvidia will grow 70% next year³.

He also restated the long-range number. Huang reiterated his forecast of $3 trillion to $4 trillion in AI infrastructure spending by 2030¹. StockStory reported the same reaffirmation of $3 trillion to $4 trillion in global AI infrastructure spending by 2030⁷.

Why it matters to investors

The guidance is set against reported results that are already steep. Second-quarter revenue jumped 105.8% year on year to $96.22 billion, the data-centre segment rose 117%, and management guided the third quarter to $108 billion⁸. Huang noted that capital spending by the top five hyperscalers is the demand behind those figures⁸.

Hardware scale is the other half of the claim. Huang highlighted the use of more than 100,000 Nvidia Grace Blackwell NVL72 chips, with plans to bring an additional 400,000⁹. Nvidia’s own guidance is the closest thing the market has to a direct read on whether AI capital spending keeps compounding, because the company sits upstream of nearly all of it. Semiconductor stocks including Micron, AMD, Nvidia and Intel rose in pre-market trading on the day the forecast was reported¹.

What to watch

Huang is arguing against a mood as well as a forecast. He rebuffed AI catastrophe warnings, dismissing an Anthropic executive’s doomsday warning as outlandish, while pointing to infrastructure demand as the key growth driver⁶. That places the debate about AI risk and the debate about AI capital spending in the same conversation, which is new.

Three things test the guidance. Whether third-quarter revenue lands near the $108 billion the company guided to⁸. Whether hyperscaler capital spending holds at the level Huang cited⁸. And whether the additional 400,000 Grace Blackwell chips he described actually ship on the timetable implied⁹. The $3 trillion to $4 trillion figure for 2030 is the frame, not the evidence^1,7.