Nvidia's Huang Says Chip Sales Will Double Again Next Year

Jensen Huang just handed Nvidia investors a number bigger than anything on the last earnings call. Speaking to reporters in Scotland on Sept. 17 ahead of a summit convened by King Charles III, the Nvidia CEO said he expects the company to sell twice as many chips in 2027 as it will this year.

Nvidia stock closed Friday, Sept. 18 at $222.27, up 1.34% on 1.58 times average trading volume — a clear signal the market took the comment seriously, even without a hard shipment number attached to it.

Huang's forecast builds directly on guidance he already gave Wall Street. Nvidia's fiscal Q2 2027 results, reported Aug. 26, showed revenue of $96.2 billion, up 106% year-over-year, with net income of $59.7 billion — a 126% jump from the same quarter last year.

Management guided third-quarter revenue to $108 billion, plus or minus 2%, with a 74% gross margin midpoint. That's actually a touch below the most recent quarter's margin, and it's the detail investors should watch closest: doubling unit sales doesn't automatically double revenue if pricing or product mix shifts along the way.

"I expect Nvidia to sell twice as many chips next year as we do this year." — Jensen Huang, CEO, Nvidia

Huang tied the growth call to a global buildout, not just U.S. hyperscalers. Nations are aggressively investing in localized AI infrastructure and cloud data centers, he said, spreading demand across more buyers than just a handful of familiar names.

Data center revenue already makes up the overwhelming majority of Nvidia's business — $89 billion of the most recent quarter's total, or roughly 92.5% of everything the company sold. Any doubling of chip units flows almost entirely through that one segment.

Wall Street hasn't blinked. Bernstein's Stacy Rasgon maintained a Buy with a $400 target on Sept. 14. Goldman Sachs' James Schneider maintained Buy at $300 on Sept. 10, the same day Piper Sandler's David O'Connor initiated coverage with a Buy and a $300 target. Needham and Rosenblatt both have Buy ratings with targets between $300 and $390, all issued within the past three weeks.

That's a wall of price targets sitting well above Friday's close, and it's coming from analysts who cover the stock full-time — not a one-off reaction to a comment in Scotland.

The counterargument is valuation, plain and simple. Nvidia already carries a market cap north of $5.3 trillion and trades at roughly 28 times trailing earnings. A company that size doesn't get a pass on execution — it has to actually deliver the units, the memory supply, and the systems to back up the forecast.

Huang addressed the flip side of the AI boom too, telling reporters that companies have a responsibility to test technology properly before release. "If it's not ready, just hold it back," he said, pushing back on comparisons between the current AI wave and the largely unregulated rise of social media.

For retail investors already holding NVDA, the doubling comment is a tailwind, but it's not a new catalyst you should chase today — the stock already popped on the news. The real test lands Nov. 17, when Nvidia reports next-quarter earnings and either backs up the $108 billion guide or doesn't.

If you're looking for an entry point rather than adding here, a pullback toward the $200 level — still well below every analyst target on the list — gives you room before the November print without chasing a stock that's already run on a verbal forecast.

Keep an eye on supply-side risk too: bottlenecks in advanced chips, memory pricing spikes, or delayed data center buildouts from customers could all slow the unit ramp and squeeze margins even if demand is exactly as strong as Huang says.

Bottom line: Huang just raised the bar on Nvidia's growth story, and Wall Street's price targets say there's room to run — but November's earnings call is where that forecast either becomes real or becomes a talking point that didn't pan out.