Nvidia CEO dismisses AI bubble fears, projects $647b in chip sales

Nvidia chief executive Jensen Huang announced a flurry of new partnerships and dismissed concerns about an artificial intelligence bubble, saying the company’s latest chips are on track to generate US$500 billion (S$647 billion) in revenue.

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The Blackwell processor, Nvidia’s flagship AI accelerator, and the newer Rubin model are fuelling an unprecedented surge of sales growth through 2026, Mr Huang said on Oct 28 at a company presentation in Washington.

The event — Nvidia’s first GPU Technology Conference (GTC) held in the nation’s capital — highlighted the partnerships that the company is forging across the industry.

The chipmaker is teaming up with Uber, Palantir and CrowdStrike, among others, aiming to ensure its technology remains at the heart of the AI frenzy.

Nvidia also unveiled a new system to connect quantum computers with its AI chips.

“We have now reached our virtuous cycle, our inflection point,” Mr Huang told thousands of attendees at a convention hall blocks from the White House. “This is quite extraordinary.”

Mr Huang also emphasised the ways his company is helping advance US President Donald Trump’s economic agenda for building out US manufacturing. The Nvidia chief delivered his remarks days before Mr Trump is scheduled to meet Chinese President Xi Jinping to finalise a trade deal that would ease years of trade tensions.

Previous restrictions have effectively blocked Nvidia’s prized AI chips from China.

But much of the presentation focused on the AI industry reaching a turning point.

Mr Huang’s argument: AI models are now powerful enough that customers are willing to pay for them - and that in turn will justify the costly build-out of computing infrastructure.