Nvidia CEO Projects 70% Revenue Growth Amid AI Infrastructure Surge
Jensen Huang defends Nvidia's market dominance and dismisses 'circular deal' concerns as the company targets unprecedented scale.
Nvidia expects its revenue to grow by 70% year-over-year next year, according to CEO Jensen Huang. The projection suggests the AI infrastructure build-out is accelerating rather than peaking, cementing the company's role as the foundational platform for the industry.
Speaking at the Goldman Sachs Communacopia + Technology conference on September 10, 2026, Huang expressed confidence in the growth target. If current analyst estimates of $400 billion for the current fiscal year hold, a 70% increase would bring Nvidia's annual revenue to approximately $680 billion. This growth is supported by strong demand for integrated systems; specifically, the computer system combining 36 Grace CPUs with 72 Blackwell GPUs is currently seeing sales growth of 27% month-to-month.
The Shift to Integrated Systems
Nvidia has fundamentally transitioned its business model, moving from selling individual GPUs for gaming to providing massive, integrated AI infrastructure systems that cost millions of dollars per unit. This strategic pivot allows the company to maintain its lead even as it faces increasing competition from hyperscalers like Amazon, Microsoft, and Google, as well as AI labs such as OpenAI and Anthropic. Startups like Etched and Cerebras are also attempting to challenge Nvidia's dominance in the specialized silicon market.
Defending the Revenue Stream
Addressing skepticism regarding "circular deals"—where a company invests in customers who then use that money to buy its products—Huang argued that Nvidia's investments are backed by genuine demand. He claimed that Nvidia has seen $100 billion worth of contracts from companies in which it has invested, ensuring that revenue is generated from actual customer needs. "Well, it’s not circular because we put a little bit of money in, and a lot of money comes back," Huang stated.
Industry Implications and Outlook
Maintaining a 70% growth rate at a scale of hundreds of billions of dollars would be an unprecedented feat in the semiconductor industry. It signals that the transition to AI-native computing is still in an early, aggressive expansion phase. The scale of future demand appears vast, with Nvidia projecting at least $1 trillion in cumulative chip orders for the Blackwell and Vera Rubin families through 2027.
Investors and competitors will now watch whether the current pace of data center expansion can be sustained or if the rise of custom silicon from cloud providers will eventually erode Nvidia's pricing power. For now, the company's deep integration across the AI ecosystem remains its primary moat.