Founder, CEO, and tireless Nvidia hype man Jensen Huang told attendees at the Goldman Sachs Communacopia + Technology conference on Thursday why his company’s AI domination — and revenues — will continue its record-breaking growth streak through the end of next year.
“Most people think Nvidia builds a chip. I mean, you need airplanes to ship what we build,” Huang said, adding that the company continues to battle a perception from its early days. Nvidia invented the GPU, which back then were largely sold to consumers to improve PC gaming. “One GPU now is not $399. It’s $8.5 million dollars. That’s one GPU, all connected with NVLink, 2 million parts, right? 250,000 kilowatts. That’s a GPU, and we ship thousands of them.”
“I think we could grow 70% year over year. We’re confident about that,” Huang said again on Thursday. Analysts expect the company to end its current fiscal year at about $400 billion in revenue. So 70% growth would mean around $680 billion next year.
Huang explained why he’s confident: His company is so embedded in every area of AI that he believes he can see the future.
“Nvidia runs every model. Every single lab can use us,” the CEO said, mentioning that this includes models from Anthropic, OpenAI, and Google, as well as open-weight offerings. “We are a foundational platform of the AI ecosystem, foundational platform of the AI industry.”
Nvidia’s fingers extend all the way from its suppliers, such as memory chip makers, to data center projects and startups.
“We’re tracking every single gigawatt of land, power, shell around the world. Literally everything on the planet,” he said. (“Shell” refers to the shell of a data center building before it is outfitted with computers).
“I mean, just think about all my partners. How many neoclouds are reporting back to us? How many OEMs are reporting back to us? How many clouds are reporting back to us? How many AI-native companies are reporting back to us? We’re working with everybody, and so we kind of know where everything is,” he said.