Jensen Huang's Nvidia Guided for 70% Revenue Growth in Fiscal 2028, Far Above the 44% Wall Street Expected, as Amazon Agreed to Buy 2 Million Nvidia GPUs. Is the Growth Forecast Believable?

NVDA issued a two-year revenue guidance targeting 70% year-over-year growth for fiscal 2028, significantly above the 44% consensus expectation on Wall Street. The forecast is underpinned by AMZN's commitment to purchase 2 million NVDA GPUs and the deployment of NVDA's new Vera Rubin architecture. NVDA posted 106% revenue growth in fiscal 2027 Q2, demonstrating accelerating momentum that lends credibility to the ambitious long-range target.

The AMZN deal represents one of the largest single GPU commitments disclosed to date, providing visible demand well into the forecast period. The Vera Rubin architecture rollout adds a product cycle catalyst alongside existing data center buildouts driving current growth.

NVDA's ability to beat its own guidance has been consistent through the AI infrastructure buildout, and the company's dominant position in training and inference workloads gives it pricing power and design-win visibility that most semiconductor peers lack.