Nvidia’s $1 Trillion Backlog and 30% Growth Guidance Fail to Sway Investors
Nvidia’s backlog reached $1 trillion as CEO Jensen Huang highlighted sustained data center demand, with guidance for over 30% revenue growth into fiscal 2027. Analysts note that this backlog matches existing revenue projections and investors remain skeptical about further data center capex growth beyond peak spending.
1. Nvidia’s $1 Trillion Data Center Backlog
At its annual GTC event, Nvidia reported a $1 trillion backlog of orders for data center GPUs and AI infrastructure slated for fiscal years 2026 and 2027. This backlog represents the cumulative value of secured contracts but aligns closely with consensus revenue forecasts.
2. Investor Skepticism on Continued Capex Growth
Despite guidance for more than 30% revenue growth in the next fiscal year, investors doubt that data center capital expenditures will rise beyond current peak levels. Market sentiment may hinge on capex outlooks from major cloud providers such as Microsoft, Amazon and Google in upcoming earnings.