shares rose about 6% before the bell on Thursday as investors embraced the chipmaker's strong long-term outlook, betting that ​a global race to build AI infrastructure will fuel years ‌of rapid growth despite concerns about supply bottlenecks and financial ties with customers.

The world's most valuable company projected 70% revenue growth next fiscal year ​and forecast current-quarter sales above Wall Street estimates, signaling that ​the AI spending boom remains intact.

The forecast offers fresh ⁠ammunition to bulls after Nvidia's shares fell nearly 12% from their ​May peak as investors increasingly demanded evidence that the AI spending ​boom would last.

Following the results, at least 10 brokerages raised their price target on the shares, according to data compiled by LSEG.

Analysts at Morgan Stanley said, "70% ​growth supply constrained is a remarkable figure, and to the ​extent possible we would expect Nvidia to continue to knock down barriers to ‌higher ⁠growth".

The forecast marked a rare long-term outlook from Nvidia, with CEO Jensen Huang saying AI had reached an "inflection point" as the technology moves from experimentation to real-world deployment.

Nvidia signaled AI demand is broadening ​beyond hyperscalers, citing growth ​from AI ⁠labs, expanding capacity at firms such as CoreWeave and Nebius, and a deeper partnership with Amazon Web ​Services.

Morgan Stanley said that Nvidia's push into cloud ​revenue-sharing could ⁠become a fresh catalyst for the stock.

The company reported second-quarter revenue of $96.2 billion, ahead of Wall Street expectations, driven by $89 billion in ⁠data center ​sales.

The stock trades at 17.9 times ​forward earnings estimates, well below Advanced Micro Devices' 37.2 times and Intel's 46.2 times. (Reuters, 2026-08-27)