28 August 2026
Nvidia reports doubled revenue, forecasts 70% growth next year
First reported
BBC News and SiliconANGLE ran this on , 2 days before the other 2 sources picked it up.
- Nvidia's second-quarter revenue reached $96 billion, more than double the prior year, with data centre sales at $89 billion.
- The company forecasts $108 billion revenue for the current quarter and 70% growth for fiscal 2028, well above analyst expectations.
- Nvidia has become a financial backer to AI companies like OpenAI and Anthropic, funding their infrastructure spending while selling them chips.
- Competitors are emerging as customers design their own processors, though current results suggest Nvidia's dominance remains intact for now.
Where they differ
Mindstreamfocused on investor concerns about Nvidia's circular financing model.
The Neuronreported on OpenAI's competing chip performance; the underlying news covered only Nvidia's actual results and did not mention OpenAI's chip at all.
What each one reported
Nvidia raised its revenue forecast for next year to around 70% growth, with data centre revenue reaching $89bn up 117% year-on-year. The newsletter argues that while AI infrastructure demand remains strong, investors are concerned about Nvidia helping to finance its own customers, creating a circular system where Nvidia funds firms that then buy more Nvidia products.
OpenAI's new chip demonstrated superior speed and power efficiency compared to Nvidia's flagship processor in preliminary performance benchmarks.
Reported by BBC News, SiliconANGLE