Jensen Huang in an interview after the publication of Nvidia reports: “The markets were wrong”

During the interview, Huang sought to calm the growing fears on Wall Street that artificial intelligence would be an existential threat that would severely damage the business model of traditional software companies, saying: “I think the markets were wrong.” According to him, instead of replacing the companies, the AI ​​will strengthen them and make them more efficient.

The AI ​​is a growth engine, according to him, and not “cannibalization”. The transition from regular software to AI translates directly to growth and increased revenue. He dismissed the fear that artificial intelligence will eliminate the need for software licenses (SaaS), and claims that the demand will only increase as the tools become smarter. “Instead of “cannibalizing” software, agentic AI will be the biggest software productivity accelerator we’ve ever seen.”

In its reports, Nvidia exceeded expectations, both in the revenue line and in profit. Revenues jumped compared to last year and reached 68.1 billion dollars. Revenues from the data center grew by 75%, gross profit was 75%, meeting the high profitability target set by the company. The company expects revenues of approximately $78 billion in the next quarter, well above analysts’ estimates.

In the conference call with analysts held shortly after the reports were released, Huang sought to allay fears of a bubble forming in the AI ​​chip market. He emphasized that demand for the new Blackwell chips “is just crazy. It’s outstripping supply and we expect that to be the case for some time.”

“Our customers understand that computing equals revenue.”