Jensen Huang Says Nvidia Will Sell Twice the Chips Next Year
Jensen Huang just put a bigger number on the table than Nvidia's own formal guide.
Speaking in Scotland before a summit with King Charles III, the Nvidia (NVDA) CEO said he expects the company to sell twice as many chips next year as this year. The stock climbed about 2.5% Thursday and helped chip names lead a broader tech rebound after the Fed hike bruise.
The important split is units versus dollars. Nvidia's latest formal outlook still points to roughly 70% revenue growth for the fiscal year ending January 2028, near a $673 billion run if the Street's math holds. CFO Colette Kress already said customer forecasts point to growth doubling, and that the published guide is the supply-constrained version. Huang's chip-count line is the unconstrained story said out loud again.
Supply is still the ceiling
Nvidia does not publish a clean total chip unit count. The company has talked about shipping millions of Blackwell GPUs and now has Vera Rubin entering full production with shipments expected this fall. Preliminary MLPerf results showed the Vera Rubin NVL72 system delivering up to about 3.7 times the inference throughput of the prior GB300 setup on a key vision-language test.
High-bandwidth memory remains the choke point. Kress has said HBM scarcity can last through fiscal 2028. That is why a doubling of units is not the same thing as a clean double of revenue every quarter. Pricing, mix, and memory cost all sit between the factory and the income statement.
Who is ordering the chips
Demand is no longer only three hyperscalers. Sovereign AI projects, new labs, and enterprise buyers keep showing up with purchase orders. Nvidia has also talked about a large AWS GPU deployment over 2027 and 2028. Europe's planned AI gigafactories are another long-cycle call on the same order book, with construction timelines that stretch into 2027 and 2028.
I like the honesty in the two-track message. The company will guide what it can build. Huang will keep saying what customers want if the memory and packaging lines catch up. Investors who treat every CEO sound bite as a new guide number are going to get whipsawed. Investors who watch supply commitments, HBM contracts, and real rack shipments will stay closer to the cash story.
Bottom Line: Huang's double-the-chips line is demand theater with a real factory problem behind it. Nvidia still has the order book. The tape will keep arguing about whether supply can turn that into the full dollar double.
Money Morning is not a registered investment advisor. This article is for informational purposes only and should not be construed as investment advice. Past performance is not indicative of future results. We may receive compensation for promoting third-party products and services. Always do your own due diligence before investing.