Nvidia (NVDA) Stock Climbs as CEO Predicts Chip Shipments Will Double in 2026

Key Takeaways

• Nvidia shares advanced over 2% Thursday, reaching approximately $218 per share
• Jensen Huang projected the company will ship double the volume of chips in the coming year
• The chipmaker forecasted 70% revenue expansion for its upcoming fiscal year, with potential to double under ideal supply conditions
• Huawei unveiled plans for two new AI processors as China moves to decrease dependency on Nvidia technology
• Huang is slated to participate in the Trump-Xi diplomatic dinner scheduled for September 24

Nvidia stock advanced more than 2% during Thursday’s trading session, hovering near $218, following CEO Jensen Huang’s optimistic demand projections and a broader technology sector rally that lifted major indices.

NVIDIA Corporation, NVDA

Speaking at a summit in Scotland organized by King Charles III, Huang shared with journalists his expectation that Nvidia will deliver twice the chip volume next year compared to current levels. “AI’s substantial contributions across various industries and economies drive this growth,” he explained.

The semiconductor giant’s shares are poised for consecutive daily gains. The S&P 500 climbed 1.1% while the Nasdaq Composite advanced 1.6% during the session, with technology stocks driving the upward momentum.

Fellow semiconductor manufacturers experienced similar upward movement. Qualcomm shares increased 2% and Intel rocketed 9% on the trading day.

Financial Projections

Nvidia recently announced expectations for 70% revenue expansion through its fiscal year concluding in January 2028, translating to approximately $673 billion in revenue. Huang further suggested that revenues might potentially double assuming adequate manufacturing capacity to satisfy market demand.

The company keeps its total chip unit shipments confidential. Its flagship offerings include data center graphics processing units, featuring the Blackwell and Rubin architectures. During the previous fall, Huang disclosed that Nvidia delivered 6 million Blackwell GPUs across four quarters.

In addition to GPUs, Nvidia’s product portfolio encompasses central processing units, networking switches, optical communication chips, laptop processors, Jetson chips designed for robotics and automotive applications, and the processor powering Nintendo’s Switch 2 gaming console.

During the Scotland gathering, Huang discussed artificial intelligence safety protocols, emphasizing corporate accountability prior to product launches. “Products that aren’t safe should be withheld and refined through additional engineering,” he stated. His attendance coincided with representatives from Google DeepMind, OpenAI, and Anthropic.

Chinese Competition Intensifies

Concurrent with Huang’s Scotland appearance, Huawei made significant announcements of its own. The Chinese technology conglomerate revealed intentions to introduce two new artificial intelligence processors next year, claiming delivery of over 1,000 AI computing platforms to more than 370 clients.

This initiative aligns with China’s broader strategy to minimize dependence on American technology, following Washington’s implementation of restrictions limiting Chinese access to Nvidia’s cutting-edge processors. Huawei has operated under US sanctions since 2019.

Morgan Stanley projects China’s AI chip sector could reach $67 billion by 2030, with domestic manufacturers capturing 86% of market share, a significant increase from under 50% in 2025.

From a diplomatic perspective, Huang is anticipated to join a state dinner hosted by President Trump honoring Chinese President Xi Jinping on September 24. Artificial intelligence is expected to be a central topic during Trump-Xi discussions.

Huang has cultivated strong relationships with the Trump administration and accompanied the president to China earlier this year. He also participated in a state dinner hosted by Xi in May, with fellow attendees including Elon Musk and former Apple CEO Tim Cook.