Nvidia guides FY28 to ~$691B, non-hyperscaler demand growing 100% a year
Beth_Kindig · x · 2026-09-07
I/O Fund's Beth Kindig breaks down Nvidia's earnings call: the company broke its guidance cadence to forecast FY28 revenue of $691B (+70%), well above the $570B analyst consensus. Sovereign AI, regional AI, NeoClouds and enterprise AI startups now represent about half of business, growing 100% a year — showing demand is broadening beyond hyperscalers, even as Nvidia's accelerator share is expected to slip from 90% to 70% by end-2026 on custom-chip competition. At a mid-40% FCF margin, FY28 FCF could exceed $310B, nearly 2x covering current circular financing obligations.
More from Venture
- Nvidia reportedly in talks for $2.5B bet on Thinking Machines Lab at ~$40B valuation — kimmonismus · 2026-09-07
- Bootstrapped founder with 22k users and $1M+ revenue shares free 5-day growth playbook — kylegawley · 2026-09-07
- 95% of x402 protocol transactions are agents routing to the cheapest AI model — kleffew94 · 2026-09-07
- The Future of E-commerce Is Bot-commerce: Consumer Agents Negotiating With Merchant Agents — AccBalanced · 2026-09-07
- OpenAI says ChatGPT Ads hits $1 billion annualized run rate, expands to India and Europe — Beth_Kindig · 2026-09-07
- The leaked audit that exposes OpenAI's real financial crisis — __natty__ · 2026-09-07