Key Takeaways
- Nvidia CEO Jensen Huang dismisses AI bubble concerns, projects $647 billion revenue from latest chips
- Company announces major partnerships with Uber, Palantir, CrowdStrike and others
- Nvidia stock hits record high after CEO’s confident remarks
Nvidia CEO Jensen Huang has strongly rebutted fears of an artificial intelligence bubble, projecting that the company’s latest Blackwell and Rubin chips are on track to generate $647 billion in revenue through 2026. The announcement came during Nvidia’s first GTC conference in Washington, where Huang outlined an unprecedented surge in sales growth.
Major Industry Partnerships Announced
Nvidia revealed several strategic partnerships aimed at maintaining its position at the center of the AI revolution:
- Uber Technologies: Powering 100,000 self-driving vehicles, with Stellantis among first automakers to deliver robotaxis
- Palantir: Combining Nvidia technology with Ontology platform for logistics insights, with Lowe’s as early adopter
- CrowdStrike: Developing “always-on, continuously learning” AI agents for cybersecurity
- Lucid Group: Partnership to develop autonomous vehicle platform
- Eli Lilly: Building pharmaceutical industry’s most powerful supercomputer using 1,000+ Blackwell chips
- Nokia: $1.3 billion investment to support telecom giant’s pivot into AI
AI at Inflection Point
“We have now reached our virtuous cycle, our inflection point,” Huang told thousands of attendees near the White House. “This is quite extraordinary.”
The CEO emphasized that AI models have reached sufficient power that customers are willingly paying for services, justifying massive computing infrastructure investments. His comments helped ease investor concerns, sending Nvidia shares up 5% to a record closing high of $201.03.
“I don’t believe we’re in an AI bubble. All of these different AI models we’re using – we’re using plenty of services and paying happily to do it.”
Production Scale and Market Position
Nvidia expects to ship 20 million units of its latest chips – a significant jump from the previous Hopper generation, which accounted for only four million units throughout its lifetime.
Despite being the world’s most valuable company, Nvidia still relies heavily on data center operators like Microsoft, Amazon, and Google for much of its revenue. The Washington event represented a strategic move to diversify its client base.
Growing Competition and Challenges
While Nvidia maintains dominance in AI accelerators, competition is intensifying. Advanced Micro Devices (AMD) and Broadcom are making significant inroads, with AMD’s stock more than doubling in 2025. Qualcomm recently announced plans to challenge Nvidia in AI accelerators.
The company also faces concerns that AI infrastructure costs may outpace economic benefits. However, Huang remains steadfast that AI will revolutionize the global economy.
Geopolitical Context
Huang’s presentation emphasized Nvidia’s role in advancing US manufacturing and economic agenda. The timing was significant, coming days before scheduled US-China trade talks that could ease restrictions blocking Nvidia’s AI chips from Chinese markets.
Huang confirmed that his revenue projections exclude sales from China, where export restrictions have cost Nvidia billions. The company continues seeking White House support to resume chip sales to China.
