Nvidia forecasts 70% sales growth next year as it remains bullish on AI spending boom

Nvidia forecasts a 70% revenue increase for the next fiscal year, highlighting sustained demand for AI computing. However, the company warned that shortages of memory components could hinder its growth. Shares rose nearly 5% after initially dipping over 1%. CEO Jensen Huang stated that AI has reached an inflection point, becoming productive and profitable. The revenue growth forecast exceeds Wall Street expectations, indicating an expanding AI computing market. Nvidia also shared a growth roadmap, including ramping up its Vera Rubin processors.