Jensen Huang says supply enables Nvidia "to confidently deliver 70%" — its growth target

Nvidia’s latest earnings report, released after the close on August 26, beat expectations and fueled a stock surge, with shares up about 20% over the past month. Revenue more than doubled to $96.2 billion, data center sales reached $89 billion, and CEO Jensen Huang told analysts the company could confidently meet its 70% growth target for the next fiscal year because supply allows it, even though demand is even higher. That guidance, plus $279 billion in purchase commitments mostly tied to memory for its Vera Rubin chips, signaled sustained AI infrastructure spending. Rivals AMD and Intel gained less, Broadcom slipped, and a major chip ETF barely moved, underscoring how investors are concentrating on Nvidia. The stock trades near record highs with a $5.49 trillion market cap.