Nvidia Raises FY28 Revenue Outlook, Weighs on AMD, Intel

Nvidia (NASDAQ: NVDA) delivered a strong second quarter and issued guidance that suggests significant future growth, potentially intensifying competition for Advanced Micro Devices (NASDAQ: AMD) and Intel (NASDAQ: INTC). The chip giant projected 70% annual revenue growth in fiscal 2028, a figure substantially above the 44% previously modeled by Wall Street.

### Money Play If Nvidia's projections hold, investors should monitor its expanding market share in AI agents. The company's strategic move into CPU development for agentic AI poses a direct challenge to $AMD+WL and Intel, potentially impacting their data center revenue streams.

## Catalyst Analysis: Aggressive Growth Outlook Nvidia surpassed expectations with its second-quarter performance and provided an optimistic outlook for fiscal 2028. The company's Chief Financial Officer, Colette Kress, indicated that Nvidia anticipates achieving 70% annual revenue growth by fiscal 2028, significantly outpacing the Street's prior consensus estimate of 44%. This forward-looking statement underscores Nvidia's confidence in its continued expansion within the artificial intelligence sector.

During the earnings call, management also highlighted a new, rapidly expanding business segment focused on agentic AI. This development presents a challenging landscape for Advanced Micro Devices ($AMD+WL) and Intel (INTC), as Nvidia is now entering the CPU market for AI agents with its stand-alone Vera CPU. Nvidia claims its CPUs can execute agentic tasks 1.8 times faster than industry standards and offer fivefold the bandwidth per watt compared to other data center CPUs. Kress previously projected $20 billion in CPU sales for fiscal year 2027, a figure expected to more than double by fiscal 2028, directly competing with Intel's reported $6.3 billion and $AMD+WL's approximately $6.7 billion in data center revenue in the second quarter.

Despite the competitive pressures, the projected exponential growth of the agentic AI market offers a potential silver lining for $AMD+WL and Intel. Nvidia's CEO, Jensen Huang, noted that agentic AI has recently surpassed prompted AI in usage and is expected to become ubiquitous, with companies deploying millions of continuously running agents.

## $NVDA+WL Technical Analysis & Key Risk Watch

### Sector Ripple / Impact on Semiconductors Nvidia's aggressive growth projections and expansion into the CPU market for AI agents directly impact its competitors. Advanced Micro Devices ($AMD+WL) and Intel (INTC) face increased competitive pressure as Nvidia aims to capture a significant share of the burgeoning agentic AI market. Bank of America analyst Vivek Arya has previously raised estimates for the total addressable market for server CPUs, suggesting a growing pie, but Nvidia's entry challenges existing market dynamics.

### Story Arc / How We Got Here This development follows previous market focus on inflation and Nvidia's upcoming earnings. On August 23, 2026, the Consumer Price Index (CPI) edged up 0.1% month-over-month, reaching 3.4% year-over-year, indicating persistent inflationary pressures. This print provided crucial context for Federal Reserve policy decisions amid broader market shifts and placed Nvidia in focus ahead of its earnings report. Investors at the time considered hedging strategies against inflation and monitored Nvidia's performance for potential volatility. (Prior coverage: /explore/cpi-edges-up-0-1-mom-nvidia-in-focus-ahead-of-earnings)