Nvidia CEO Forecasts Chip Sales to Double Next Year

Jensen Huang, the chief executive of Nvidia, forecast on Thursday that the company will sell twice as many chips next year as it does this year, citing robust AI investment across industries and countries as the primary driver. The projection was made at an artificial intelligence summit convened by King Charles III in Scotland, where Huang also emphasized the need for AI companies to prioritize safety by holding back products that are not ready for release. Huang's forecast builds on Nvidia's recent financial guidance, which projected revenue growth of 70% in its next fiscal year. The company had previously indicated that revenue could double if supply were sufficient to meet demand. Nvidia reported fiscal second-quarter revenues of $96.2 billion, a 106% year-over-year increase, with data center operations accounting for $89 billion of that total. The CEO attributed the expected growth to widespread adoption of AI technologies. "I expect Nvidia to sell twice as many chips this next year as we do this year," Huang told reporters.