Nvidia CEO Jensen Huang: Chipmaker Experiencing “Incredible” Demand
Nvidia Corporation (NVDA) shares surged 8% on Wednesday after CEO Jensen Huang revealed that the chipmaker is currently experiencing “incredible” demand. Huang made this statement during Goldman Sachs’ Communacopia + Technology Conference, where he highlighted the overwhelming demand for Nvidia’s infrastructure to support artificial intelligence (AI).
Unprecedented Demand for Nvidia Infrastructure
Huang stated that “everything is sold out” as customers eagerly seek Nvidia’s products to bolster their AI capabilities. He emphasized the company’s extensive collaboration with AI firms worldwide, asserting that “everybody’s counting on us.” Nvidia’s chips are widely used by major cloud providers such as Microsoft (MSFT) and Amazon (AMZN), both of which have expressed their intentions to increase investments in AI infrastructure.
Moreover, Huang highlighted the significant return on investment that Nvidia’s products offer to customers. He claimed that for every dollar a cloud company spends on Nvidia infrastructure, the company receives $5 in rentals.
Nvidia GPUs at Oracle CloudWorld
Oracle’s CloudWorld conference also showcased Nvidia’s GPUs, specifically the Oracle Cloud Infrastructure (OCI) Supercluster supported by Nvidia’s Blackwell platform. This Supercluster, equipped with over 100,000 GPUs, is designed to train and deploy AI models. The OCI Superclusters are expected to be available in the first half of 2025. The partnership between Oracle and Nvidia aims to demonstrate how Nvidia’s platform can accelerate AI and data processing for enterprise customers.
Stock Performance
Following the announcement of the “incredible” demand for Nvidia’s products, the company’s stock closed 8% higher at $116.91. This increase partially reversed the recent losses that Nvidia had experienced due to a sales forecast that fell short of expectations.
Conclusion
Nvidia, under the leadership of CEO Jensen Huang, is currently witnessing an unprecedented level of demand for its infrastructure to support artificial intelligence. With “everything sold out,” the company’s chips are highly sought after by major cloud providers and AI firms worldwide. Furthermore, Nvidia’s collaboration with Oracle at the CloudWorld conference demonstrates the company’s commitment to accelerating AI and data processing for enterprise customers. As a result of this positive news, Nvidia’s stock experienced a significant surge, partially recovering from recent losses.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. Investing in stocks involves risks, and individuals should conduct thorough research and seek professional guidance before making any investment decisions.
