As Wall Street grapples with uncertainties surrounding Federal Reserve policy, the economic landscape, and the US presidential election, one trend remains unequivocally clear: artificial intelligence (AI) is commanding substantial investment.
Corporations are channeling billions into expanding AI infrastructure and services, positioning Nvidia Corp. as a key beneficiary. The semiconductor giant’s upcoming earnings report is highly anticipated, as it is expected to shed light on the sustained surge in AI demand and potentially drive Nvidia’s stock to new highs.
Nvidia is on the brink of a significant milestone. Raymond James analyst Srini Pajjuri forecasts that Nvidia could surpass $30 billion in revenue when it reports its earnings next Wednesday. This prediction exceeds the average estimate of $28.7 billion among analysts.
Surpassing the $30 billion threshold would underscore Nvidia’s rapid and scalable growth. The company first crossed the $10 billion mark in quarterly revenue just a year ago and reached over $20 billion in the January quarter.
Looking ahead, analysts project Nvidia could achieve $40 billion in quarterly revenue within the next year. FactSet models anticipate $39.6 billion in revenue for the July quarter of next year, with expectations climbing to $42.3 billion for the October quarter.
Related topics:
What is Nvidia Best Known For?