“The world’s most valuable company is on a tear this year. Shares of Nvidia have soared 199% and account for 22% of the entire SNP’s gains this year.” – Fox Business
“We work with with thousands of startup companies and they’re called AI native companies. From the groundup they’re built to be an AI company. From the ground up this is a company that would develop capabilities and and new products and services that are made possible because of AI. We’re working with thousands of them… AI is going to revolutionize and transform everybody’s jobs.” — Jensen Huang
Fox Business alert the world’s most valuable company is on a tear this year shares of Nvidia have soared 199% and account for 22% of the entire snp’s gains this year the tech Titan share price today has been both at a record then dipping in the red then up as investors parse through last night’s thirdd quarter earnings report but the company’s revenues do not lie Nvidia sales have increased every single quarter and every quarter the company has beaten analyst estimates so what does the future look like for the company and perhaps more importantly how is AI going to change the way all of us do our jobs I spoke to nvidia’s top brass to talk about all of it Ai and how he is shaping the new Industrial Revolution joining us now in a fox business exclusive is NVIDIA founder and CEO Jensen Huang. Jensen great to have you on the show thanks so much for joining us nice to see you Liz it’s great to be here great to have you the superlatives used to describe not just your earnings but your outlook ranged from I was writing these down full steam Full Throttle incredible but but the headline really emerges that you guys have a problem most CEOs would love to have demand for two of your products right both your Hopper chip and the orders for your new Blackwell chip far exceed the supply you have what’s the most important step you guys are taking to speed up the process to fill these orders well first of all I appreciate that uh you know Hopper and Blackwell are two uh just magnificent Computing systems and and what they’ve done is these two Computing systems has really really reinvented Computing all together from software that was written by humans running on CPUs to now uh machine learning creating these neuro networks that make possible artificial intelligence running on our gpus and so so the world modernizes the data centers a trillion dollars of data centers around the world the demand is just incredible and so we’re we’re uh ramping both of these platforms incredibly hard we had a record quarter this last quarter we got it to a record quarter next quarter we’re going to go from zero billion dollars of blackw to many billions of dollars of blackw and so it’s it’s going to be an incredible thing but the demand is just incredible yeah yeah I I’m so interested to know some numbers how big is the backlog for I guess both the hopper and the Blackwell system the successor that that a lot of people want to see are you seeing any customer Behavior Jensen that says you know what we’re going to wait for the newer Blackwell model well you know people are modernizing their data centers and so they they need just needs to get going um and what I advise people to do is that uh and they are doing that which is we’re going to create new systems every single year buy what you need that year there’ll be something new that you can buy next year and then you’ll just cost average your way through uh the way the reason why it’s cost- averaging is if we increase the performance every single year effectively you’re reducing your cost for any amount of computation that you want instead of the classical old old data centers we’re going to you know several hundred billion dollars of capex each year will go into these um machine learning based and AI based systems and so we have we have hundreds of billions of dollars of of uh uh uh it systems that we’re going to have to go build over the next several years I think the number’s been put out there for all these companies whether they are Tech or just basic Enterprise ramping up and spending on AI is something like 350 billion but let me tackle the hyperscalers first meaning the 800 PB gorillas in the AI space who are desperate for your chips meta Google Microsoft SoftBank I would love to know how orders are filled meaning who gets preference I mean does it go by who ordered first or by the size of the customer well if you don’t place an order it’s hard for us to fulfill it and so most of them have placed orders uh we try we try to to uh uh be fair to with with everyone so that so that they can all get uh their AI infrastructure up and running um we also make sure that their infrastructure is ready and so between us and them uh there’s no sense shipping computers if the data center and the power and and the Readiness of the system is not there and so so we work very very closely with all of our hyperscalers we’ve been planning for this for some time and um and you know I think I think at this point uh everybody has demonstrate everybody has stood up their AI infrastructure the grace Black Wall Systems uh I think uh oci has shown pictures of it uh Google has shown pictures of it uh dell and cor weave just showed a picture I think it was last night and and uh Satia at um at his uh conference uh announced that they’re going to have pre uh previews for their customers here pretty soon and they they’ve got their system up and running and so so everybody’s really proud of the system they they’ve stood up and we’re all just racing to get there yeah and and I you know we’re talking about hundreds of thousands of these and people are dying to get their hands on them can I just get some clarity on the question about the overheating this report over the weekend there was in the information this this report that said that some of these were overheating can you just tell me if that was an issue if it’s true uh was it an issue basically with the Blackwell chip design a rack problem or was it simply that the data centers were not built to the right specs it’s a it’s a non it’s a non thing it’s probably it’s probably somebody who’s who uh heard somebody doing engineering integrating our systems into their data centers uh in the beginning they’re all kinds of engineering issues but these are normal things we’re just doing engineering we know that the grace Black Wall Systems work and we know that all of the technology now works because we now demonstrated four of them standing up uh we have lots of them working at our company we have lots of them working within our customers companies and so so we’re we’re very confident and we’re in good shape with with h Grace Blackwell production ramp uh but it’s still you know we have thousands of Engineers doing you know all kinds of things so I’m not sure what they heard but it’s a non- thing well it’s it’s a long way from 32 years ago when you founded the company with just a few employees and and a dream and as you’ve begin to really see this come to incredible fruition at least when it comes to generative AI I’m so interested to know about pricing how do you view pricing because if you’re having trouble because you did say into few quarters for fiscal year 2026 that you would see some issues with filling these orders how can you keep the price the same and will it rise we always do pricing based on the value delivered and so we’re very rigorous with respect to the simulation of these AI factories in a lot of ways the way to think about this Liz is is here’s this Machinery this big huge machinery and you apply energy to it and what comes out of it is AI we call it generative AI in a lot of ways it’s kind of like generating electricity in the last Industrial Revolution and they all these Machinery these large Machinery call AC generators and they produce electricity we’re now producing this miracle called artificial intelligence you said that you’re transforming and AI is transforming every industry every company out there all around the world and we see that we definitely see that but you have some of the loudest voices now in Silicon Valley I’m thinking Mark andrees the venture capitalist from andrees horo would saying AI has hit a wall it’s plateaued it’s it can’t go further right now and he named two reasons he said due to both the lack of enough gpus and then the training data it’s almost like he was pointing the finger at Nvidia uh that you guys aren’t getting these out enough quickly enough what do you say to that well our demand is greater than our supply and so we need to get more out and and so um I we We work with with thousands of startup companies and they’re called AI native companies. From the groundup they’re built to be an AI company. From the groundup this is a company that would develop capabilities and and new products and services that are made possible because of AI. We’re working with thousands of them. and it’s hard to to at this moment keep uh capacity and infrastructure available for every one of them and so we’re we’re working super hard to to get there as fast as we can which is the reason why we’re ramping black wall so hard um with respect to with respect to AI uh there’s a fair amount of discussion about scaling laws and the scaling law basically says the more the larger the model the more data that you train it with and the more Computing therefore you need the more effective the AI becomes and so that’s a we’re we’re kind of on our back foot with respect to the amount of demand that’s out there but we’re running as fast as we can to get the supply out there well it feels like you’re not on your back foot that you are standing pretty tall and holding ground because you are able to just crush it on earnings and your outlook is pretty impressive too uh you talked about growing customer bases in India and obviously you will have a situation where you have to hold back on China depending on what the regulations are here in the United States but I’m interested to know if you’re hearing from the Middle East they have had some real Ambitions here you list in just about every single country and it’s sensible they now realize that their nation’s data their language whatever their their their uh uh language happens to be their language their digital language en code their nation and their people’s knowledge history and culture and they they now realize that they have to take that digital dat that data and turn it into their nation’s intelligence and that they can’t they can’t wait for someone else to come do it for them that they have to do it themselves the success that we’ve enjoyed is largely in the United States but over time and very quickly whether it’s in in the west or in the East uh we’re going to see we’re going to see just about every single country jumping onto this AI Revolution this age of AI as we finish up what do you say to people who are very concerned about this you hear them and they believe that AI is going to turn us into digital slaves and that the machines will rise and control all of us you’ve had these discussions before what’s your gut reaction to that AI can do a lot of our tasks but they can’t do 100% of our jobs that’s the big idea the big idea the idea that that AI would would um uh somehow do 100% of somebody’s job is very very unlikely and quite frankly impractical for any time near any any time in the Horizon what is very likely is that AI will do 20 30 40% of a 100% of the jobs in the world so what that means is that AI is going to revolutionize and transform everybody’s jobs and it’s really important that everybody should learn how to use AI they’re not going to lose their jobs to AI they’re going to lose their jobs if they if it happens they’re going to lose their jobs to someone who uses Ai and so uh that’s that’s the most practical way of thinking about it and for the foreseeable future that’s absolutely going to be true and and um I jump on AI I would encourage everybody to use it and uh if you haven’t had had a chance to use use chat GPT use perple it use Gemini these are incredible use use Claud these are incredible AIS I use it every single day yes I would imagine you do just don’t just don’t replace newscasters and journalists please please J you’re in great shape you’re in great shape Liz we need you thank you very much Jensen we appreciate it