**Nvidia Posts Strong Earnings and Growth Projections**
Nvidia (NASDAQ: NVDA) reported impressive second-quarter earnings on August 16, 2023, exceeding Wall Street expectations and raising third-quarter guidance. The company’s CFO, Colette Kress, projected a significant 70% annual revenue growth for fiscal 2028, surpassing previous Street estimates of 44%. Nvidia also introduced its new Vera CPU, aimed at enhancing AI productivity, with an anticipated $20 billion in sales for fiscal year 2027—a move that positions it competitively against Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD).
In related developments, demand for central processing units (CPUs) is rising, driven by the growth of agentic AI technologies. Bank of America analyst Vivek Arya revised the total addressable market for server CPUs, now estimated at $210 billion by 2030, increased from an earlier $170 billion forecast. In the second quarter, Intel reported $6.3 billion in data center and AI revenue, while AMD’s data center revenue was approximately $6.7 billion. With Nvidia’s entry into the CPU market, the landscape for AI infrastructure is rapidly evolving.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
