Nvidia projects 70% sales growth next year as it rebuts circular financing criticism
After reporting results that included a 106% revenue rise in the July quarter per The Information, Nvidia projected about 70% sales growth next year and a bullish outlook extending into fiscal 2028, according to Financial Times, Bloomberg, Axios, and BBC coverage tied to rapid AI data centre expansion. Management pushed back on circular financing criticism, telling the FT that customer financing deals are excellent investments with limited risk. Bloomberg also reported first H200 sales to China in the latest quarter, though volumes stayed below U.S.-permitted totals, and noted current-period revenue guidance near $108 billion plus or minus 2% fell short of the highest Street estimates. For operators, Nvidia's demand narrative remains strong, but financing structure and forecast dispersion still drive investor debate.
Nvidia projects 70% sales growth next year as it rebuts circular financing criticism
Financial Times reporting says Nvidia is projecting 70% sales growth next year while pushing back on circular financing criticism. The chip giant also says customer financing deals are excellent investments with limited risk.
Key takeaway
Nvidia paired a bullish fiscal 2028 growth outlook with an explicit defense of customer financing deals, framing them as low-risk investments rather than circular funding.
What happened
Financial Times reporting says Nvidia is projecting 70% sales growth next year while pushing back on circular financing criticism, and that the chip giant describes customer financing deals as excellent investments with limited risk.
Bloomberg reported Nvidia gave a bullish sales outlook for fiscal 2028 and sold a small number of H200 chips to China in the most recent quarter, though shipments fell short of totals permitted with U.S. policy blessing; Bloomberg also said revenue in the current period will be $108 billion, plus or minus 2%, below the loftiest analyst estimates, while The Information cited a 106% revenue rise in the July quarter.
Evidence
Nvidia projects about 70% sales growth next year while rebutting circular financing criticism.
Financial Times Technology · attributed
Nvidia projects 70% sales growth next year as it rebuts 'circular financing' criticism
Nvidia says customer financing deals are excellent investments with limited risk.
Financial Times Technology · attributed
Chip giant says financing deals with customers are 'excellent' investments with 'limited' risk
Nvidia gave a bullish sales outlook for fiscal 2028.
Bloomberg Technology · attributed
Nvidia Corp., the chipmaker at the heart of the artificial intelligence boom, gave a bullish sales outlook for fiscal 2028, easing concerns that AI spending is poised to lose momentum.
Current-period revenue guidance is $108 billion, plus or minus 2%, below the highest estimates.
Bloomberg Technology · attributed
Revenue in the current period will be $108 billion, plus or minus 2%, the company said in a statement Wednesday.
Nvidia sold a small number of H200 chips in China, below permitted shipment totals.
Bloomberg Technology · attributed
Nvidia Corp. said it sold a small number of its H200 chips to customers in China during the most recent quarter, though shipments of the artificial intelligence processors to the world's second-largest economy fell short of the total permitted with the blessing of US President Donald Trump.
Revenue rose 106% in the July quarter.
The Information AI · attributed
Nvidia Says Revenue Rose 106% in July Quarter and Projected Strong Growth Next Year - The Information
Why it matters
AI infrastructure builders depend on Nvidia's demand signals, export access, and financing practices; strong multi-year growth guidance coexists with investor unease over forecast dispersion and deal structure.
Limits and uncertainties
Bloomberg reported the sales forecast fell short of the highest analyst estimates, so bullish long-term projections did not fully satisfy the most optimistic market expectations.
China H200 shipments were described as a small number and below totals permitted under U.S. policy, leaving export volume and timing uncertain.
The packet reports Nvidia's defense of customer financing but does not independently verify whether circular financing concerns are resolved.
Practical implications
Teams planning GPU capacity should weigh Nvidia's 70% growth outlook and data centre demand signals against near-term guidance that missed the loftiest estimates.
Operators with China exposure should track H200 shipment cadence relative to U.S.-permitted totals rather than assuming full quota utilization.
Procurement and finance teams should scrutinize customer financing terms as Nvidia publicly frames them as excellent, limited-risk investments.
What to watch
Whether subsequent quarters close the gap between Nvidia's fiscal 2028 growth narrative and the highest near-term revenue estimates.
Additional H200 shipment volumes to China relative to U.S.-permitted totals.
Further reporting or disclosure on customer financing arrangements cited in circular financing criticism.
