- Nvidia accelerators remain the largest income engine in the company until 2028
- Hyperscalor expenses could exceed $ 450 billion a year by 2027
- The growth of AI equipment already shows signs of slowdown
New forecasts have said that sales related to NVIDIA AI could approach $ 400 billion by 2028, a projection that shows the extent of demand but also raises questions about sustainability in such a rapid market.
The analysis of MorningStar Equity Research claims that NVIDIA IA accelerators, graphic processors and systems designed for automatic learning, will remain the most important source of revenue of the company in the coming years.
With almost 40% of annual compound growth projected on the accelerators market, these products could represent almost half of Nvidia’s total income by 2028.
Rapid acceleration of IA -based income
Artificial intelligence has become the centerpiece of global technological investments, reshaping both infrastructure and corporate strategies, and should be the dominant growth engine of the semiconductor industry, quickly becoming an anchor of evaluation for Nvidia.
However, the hypothesis that this trajectory continues without disruption reflects optimism which may not fully explain the volatility of the sector.
A central engine of this growth is the hyperscalor investment – cloud suppliers such as Microsoft, Amazon and Google should push annual capital expenditure beyond $ 450 billion by 2027, more than triple levels of 2023.
This wave is initially linked to the training of large -scale language models and other AI tools, but it should develop in business applications and government initiatives.
Although these trends create favorable conditions for Nvidia, they also introduce uncertainty, because the short -term fortunes of the company remain dependent on hyperscalating strategies.
Morningstar’s forecasts firmly place NVIDIA at the top of the ACC Accelerator Market, followed by competitors such as Broadcom with personalized and AMD equipment with general use systems.
However, the semiconductor industry has a long history of cyclical slowdowns, where rapid expansion is often followed by sudden corrections.
At the same time, companies in the value chain, including foundries, software design companies and equipment suppliers, are positioned to benefit from AI demand.
This spread of growth suggests that Nvidia’s domination could face progressive erosion while competitors capture larger markets on the market.
A more complicated image emerges by looking beyond immediate overvoltage, as shown in the graphic of Morningstar while the ACC accelerator and networking sales are projected more than triple by 2029, the growth rate began to drop sharply after 2024.
This creates a paradox: absolute incomes continue to increase, but the rate of increase slows significantly.
For Nvidia, this cooling momentum signals a period when maintaining extraordinary growth becomes much more difficult.
Even if Nvidia reaches sales of nearly $ 400 billion by 2028, the longer term challenges are inevitable.
The increase in energy needs of AI data centers, an increase in government efforts to guarantee the regional independence of AI and the possibility of regulatory intervention could all reshape the operational environment.
The market leadership on this scale has also historically attracted a political examination and increased prudence of investors, adding another risk layer to the prospects.
