Nvidia forecasts 70% sales growth next year, signals AI spending boom has years left to run

Nvidia on Wednesday forecast a 70% jump in revenue next fiscal year, underscoring unabated demand for AI computing, while warning that shortages of memory components would continue to curb how quickly it can expand.

The chip company’s shares rose nearly 5% in extended trading, after having dipped over 1% initially.

“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue,” Nvidia ‌Chief Executive Jensen Huang ⁠said.