Nvidia, the dominant maker of the chips that power the AI boom, has been the most valuable company in the world for most of the past year. Based on the company’s remarks during its third-quarter 2025 earnings call on Wednesday, it could soon be one of the world’s biggest companies by revenue, too—a stunning development for a company that had under $10 billion in annual revenue less than a decade ago.
Nvidia pleased investors with its latest earnings announcement: The company’s Q3 revenues of $57 billion beat expectations, as did its earnings and its forecast for Q4, and its share price jumped 5% in after-hours trading.
But arguably even more eye-popping was its forecast for the next 14 months. In a conference call after the earnings report was released, Chief Financial Officer Colette Kress said that Nvidia sees “visibility to a half a trillion dollars in Blackwell and Rubin revenue from the start of this year through the end of calendar year 2026.” Blackwell and Rubin are two of Nvidia’s families of AI chips.
Data-center revenue, the category in which Blackwell and Rubin fall, accounted for 90% of Nvidia’s Q3 revenue, with the rest coming from categories including gaming GPUs and chips for robotics and automotive products.
Nvidia is now forecasting roughly $203 billion in total revenue for 2025. In response to an analyst’s question, Kress confirmed that she expected about $350 billion in Blackwell and Rubin revenue to come in the 14 months between now and the end of 2026. That would imply about $300 billion in revenue from those chips next year.
That alone would be enough to crack the top 10 in the Fortune 500, our annual list of the largest American companies by revenue, based on our most recent rankings; it would rank Nvidia No. 17 on the Global 500 list of the world’s largest companies. And Nvidia would presumably be adding a few billion from other revenue as well.
Kress also implied that her half-trillion-dollar forecast was at the low end of Nvidia’s range. She cited just-announced deals with the Kingdom of Saudi Arabia and Anthropic, and added that “there’s definitely an opportunity for us to have more on top of the $500 billion that we announced.”
If Nvidia’s forecast comes true, it’ll cement the company’s place as one of the fastest-growing companies in the 70-plus year history of the Fortune 500. Nvidia was founded in 1993, but didn’t crack the 500 until 2017, when it ranked No. 387; at the time it had less than $10 billion in annual revenue. As recently as 2023, it ranked at No. 152; this year it’s No. 31.
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