Nvidia chief executive Jensen Huang has set out why he expects the company to sustain its record-breaking growth into the end of next year. Speaking at the Goldman Sachs Communacopia + Technology conference on Thursday, Huang reaffirmed the firm’s forecast that revenue could climb by 70% year over year.
The projection follows earlier guidance issued when the company reported another record quarter last month. Analysts anticipate Nvidia will close its current fiscal year at roughly £320 billion in revenue. Growth of 70% would push next year’s figure to around £545 billion.
“I think we could grow 70% year over year. We’re confident about that,” Huang told attendees.
Why Huang Believes He Can See the Future
Concern has grown over whether Nvidia can maintain its lead as competition for GPUs and AI chips intensifies. Pressure is coming from the hyperscalers such as Amazon, Microsoft, and Google, each building their own silicon, and from AI labs including Anthropic and OpenAI, which are developing their own chips. Newly public rival Cerebras and start-ups such as Etched add further competition.
Huang argued that Nvidia’s role has been widely misunderstood. “Most people think Nvidia builds a chip. I mean, you need airplanes to ship what we build,” he said. The company invented the GPU, which in its early days was largely sold to consumers to improve PC gaming.
“One GPU now is not EUR 343. It’s EUR 7 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,” he said.
He noted that orders for a single product, a computer system combining 36 Grace CPUs with 72 Blackwell GPUs, are currently seeing 27% month-to-month sales growth.
A Foundational Platform Across the AI Ecosystem
Huang attributed his confidence to how deeply embedded Nvidia is across the entire AI ecosystem. “Nvidia runs every model. Every single lab can use us,” he said, referring to 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.”
The company’s reach extends from suppliers such as memory chip makers through to data centre projects and start-ups. “We’re tracking every single gigawatt of land, power, shell around the world. Literally everything on the planet,” he said, using “shell” to describe a data centre building before it is fitted with computers.
“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.
The remarks prompted questions about Nvidia’s so-called circular deals, in which it invests in companies that then purchase its products, a practice associated with the earlier downfall of internet build-out suppliers such as Lucent Technologies. Huang rejected the characterisation, stating that Nvidia cont
