Huang Renxun refutes AI bubble theory, new chips will generate $500 billion in revenue

Jen-Hsun Huang, chief executive of NVIDIA, on Tuesday dismissed fears of an artificial intelligence bubble, saying the company's latest chips would generate $500 billion in revenue over the next five quarters. At the GTC conference in Washington, Mr. Huang pointed to unprecedented sales growth driven by Blackwell processors and a new generation of Rubin models. The conference highlighted the company's partnerships with companies such as Uber, Palantir and CrowdStrike to integrate AI into a wide range of products. NVIDIA also unveiled new systems that connect quantum computers with AI chips. "We have reached a turning point in a virtuous circle," Mr. Huang told thousands of attendees at a conference centre near the White House. "This is really extraordinary." Huang's speech focused on a tipping point in the AI industry, arguing that current AI models are so powerful that customers are willing to pay to use them, which will justify expensive infrastructure building. That view eased concerns about an AI investment bubble, sending Nvidia's shares up more than 5% on Tuesday, with the stock price breaking $200 for the first time.