Jensen Huang: Nvidia will sell twice as many chips next year

Jensen Huang has a simple forecast: "I expect Nvidia to sell twice as many chips this next year as we do this year." He said it in Scotland, before an AI summit convened by King Charles III with leaders from Google DeepMind, OpenAI and Anthropic. His reason is that countries are pouring money into their own sovereign AI data centers. NVDA rose about 2% on the news.

The forecast lines up with the numbers. Nvidia just posted $96.2B in Q2 revenue, up about 106% year over year, and guided Q3 to $108B. Management already expects about 70% revenue growth for fiscal 2028, and the CFO said customer forecasts point to growth doubling. Huang's catch is that the current outlook is supply-constrained. On demand beyond that limit, he said "the unconstrained is significant." Most of the lift comes from Vera Rubin, which Nvidia calls the fastest ramp in its history. It earns about $40B per gigawatt of data center capacity, against about $25B for Blackwell.

Huang also talked about safety at the same summit. "If it's not ready, just hold it back," he said. He argued that regulators should adapt existing sector laws, such as healthcare and transport, rather than write new AI rules.

Why it matters: if Nvidia can double volume and still not meet demand, the AI capex boom is nowhere near its peak, and factory capacity is now the real limit.