When Nvidia (NVDA) CEO Jensen Huang makes a big prediction, you would be hard-pressed to see him pull back on it at a later date. Especially when it looks to be dead-on accurate.
Huang reiterated his expectation that the size of the AI market will reach $3 trillion to $4 trillion by 2030 during a talk at the Goldman Sachs Communacopia & Tech conference on Thursday. It was exactly one year ago that he made the initial prediction at the same event.
How did Nvidia’s latest earnings compare to expectations?
What factors are driving Nvidia’s projected revenue growth?
What is Jensen Huang’s AI market prediction for 2030?
How does GPU demand exceed Nvidia’s supply capacity?
“The semiconductor industry is going to just keep getting larger and larger, which is what we’re seeing now [with] these two fundamental ideas, that we have a new layer of computing with a new application and the end of Moore’s law,” Huang said. “Meanwhile, people are expecting these AI models to be smarter and smarter because they don’t like wrong answers. Then the compounded result of that should result in a very large industry.”
Nvidia’s latest earnings report underscores where Huang sees everything headed.
The company posted adjusted earnings per share of $2.22 on revenue of $96.2 billion in its just-reported quarter. These were better than the $2.09 per share and $92.3 billion in revenue the Street had expected.
Nvidia’s Data Center revenue, which includes Hyperscalers and AI Clouds, Industrial, and Enterprise (ACIE), came in at $89 billion versus a projected $85.8 billion.
Edge Computing, which includes Nvidia’s other businesses, such as physical AI and gaming, brought in $7.2 billion. Analysts were expecting $6.6 billion.
Nvidia added that it sees 70% revenue growth for fiscal year 2028. This was above analyst forecasts for 45% growth. The sales gain would be larger — think in excess of 100% — if not for memory chip shortages, said Huang.
“We are struggling to meet demand every day,” CoreWeave (CRWV) CEO Michael Intrator told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above). “Every GPU we have could be sold to multiple different clients. It is a unique moment, and it continues to be.”
Nvidia serves as the backbone, primary supplier, and main financial guarantor for CoreWeave’s ever-expansive neocloud operation.
Beyond supplying 100% of the advanced GPUs powering CoreWeave’s specialized AI data centers, Nvidia acts as a major strategic shareholder, holding an 11.5% equity stake.
https://finance.yahoo.com/markets/article/nvidia-ceo-jensen-huang-just-doubled-down-on-his-big-2030-prediction-115945089.html?shem=aimgspc,
