Nvidia Says Its Cloud Customers Are Sitting on a $2 Trillion Backlog -- Here's What Nvidia's Cut Is Worth by 2028
Its largest customers are expected to spend $1.3 trillion next year, and the chipmaker's share of that spending has remained about a quarter.
Overview
Nvidia (NASDAQ:NVDA) reported its fiscal second-quarter results on Aug. 26, and the figures were extraordinary. Quarterly revenue rose 106% year over year to $96.2 billion, accelerating from the 85% growth recorded in the fiscal first quarter. Data center revenue rose 117% to $89.0 billion.
But the figures that caught my eye came out of the earnings call, from chief financial officer Colette Kress.
Details
"With cloud industry backlog now greater than $2 trillion, [capital expenditures] by the top 5 hyperscalers is expected to reach nearly $800 billion in 2026 and $1.3 trillion in 2027," Kress said.
Source
Originally published at www.fool.com.