Nvidia shares climbed 2.8% after CEO Jensen Huang signaled a potential doubling of chip sales, citing relentless demand for AI accelerators and projecting 70% revenue growth for the upcoming fiscal year.
CEO Jensen Huang expects to sell twice as many chips next year on AI demand, with Nvidia projecting 70% sales growth and shares rising 2.8%.
Nvidia CEO Jensen Huang expects chip sales to double next year as artificial intelligence adoption accelerates across global industries. The company, which leads the market in AI accelerators, maintains a bullish outlook despite broader industry concerns regarding the safety and rapid development of AI technologies.
The growth is primarily fueled by the widespread adoption of artificial intelligence across various industries and the high demand for Nvidia's specialized AI accelerator chips.