Nvidia forecasts 70% growth as Amazon orders 2 million chips

Nvidia reported quarterly results on 26 August 2026. Chief executive Jensen Huang forecast 70% revenue growth for fiscal 2028, above analyst estimates, and supply commitments rose to $279 billion from $119 billion. Amazon Web Services said it would buy 2 million Nvidia GPUs.

Why it mattered CNBC reported that capital spending by the five largest hyperscalers was projected to rise from about $800 billion in 2026 to $1.3 trillion the following year.