Nvidia CEO Jensen Huang announced a series of new partnerships and dismissed concerns about an AI bubble, saying the company’s latest chips are expected to generate $500 billion in revenue.
Huang Renxun said at the company’s press conference in Washington on Tuesday that the Blackwell processor (Nvidia’s flagship AI accelerator) and the newer Rubin model will drive unprecedented sales growth in 2026.
This event marks the first time that Nvidia has held its GTC conference in the US capital, highlighting the partnerships the company is building across the industry. The chipmaker is collaborating with companies such as Uber Technologies Inc., Palantir Technologies Inc. and CrowdStrike Holdings Inc. to ensure its technology remains at the core of the artificial intelligence boom. Additionally, Nvidia has launched a new system that connects quantum computers with its AI chips.
Nvidia’s cooperation also reflects its growing global ambition. The company is planning to build a 1 billion euro (about 1.2 billion US dollars) data center with Deutsche Telekom AG in Germany and has just announced an investment agreement with Nokia Oyj. Huang Rengong will also announce cooperation agreements with Samsung Electronics and Hyundai Motor Group when he visits South Korea this week.
“We have now entered a virtuous cycle, a turning point,” Huang Renshuo told thousands of attendees in a conference hall just a few blocks from the White House. “This is truly remarkable.”
Huang Renxun also emphasized how NVIDIA is helping to advance President Donald Trump’s economic agenda of building up American manufacturing. The previous restrictions effectively prevented Nvidia’s highly regarded artificial intelligence chips from entering the Chinese market.
But the majority of the speech focused on the upcoming turning point in the artificial intelligence industry. Huang Renshun’s view is that artificial intelligence models are now powerful enough that customers are willing to pay for them – which in turn justifies the high cost of building computing infrastructure.
“I don’t think we are in an AI bubble,” Huang Rensheng said in an interview with Bloomberg Television after his speech. “We are using all kinds of different AI models – we are using a lot of services and are happy to pay for them.”
Nvidia expects the shipment volume of its latest chip to reach 20 million units. Huang Rengxun stated that the shipment volume of the previous-generation chip Hopper was only 4 million units.
Nvidia, the world’s most valuable company, has benefited the most from the wild spending in the field of artificial intelligence computing. But the majority of its revenue still depends on a small number of customers – data center operators such as Microsoft, Amazon and Google, a subsidiary of Alphabet Inc. This three-day event in Washington aims to serve a broader customer base.
Although Nvidia still dominates the market for artificial intelligence accelerators (processors used to train and run AI models), the challenges it faces are growing increasingly severe. AMD and Broadcom are entering the industry, while companies like OpenAI, the developer of ChatGPT, are seeking to develop more in-house technology. Just this week, mobile chipmaker Qualcomm announced that it will compete with Nvidia in the field of AI accelerators.
AMD’s share price has more than doubled this year, indicating that investors view it as a major competitor. As of Monday’s close, Nvidia’s share price rose by 43%, a slightly smaller increase.
Nvidia also faces concerns that the cost of artificial intelligence infrastructure exceeds its actual economic benefits. Huang Rengxun and his peers firmly believe that artificial intelligence will completely transform the world economy, and the investment in computing infrastructure is worthwhile.
The chipmaker’s speech to the audience in Washington was more patriotic than ever. The event repeatedly emphasized Nvidia’s role as a leading American company and how it helps bring manufacturing back to the United States. At the end of his speech, Huang Rengxun even paid tribute to Trump’s signature slogan, thanking the audience for “Making America Great Again.”
Meanwhile, Huang Renshun has been signing agreements in Europe and other regions to solidify Nvidia’s leading position as a provider of equipment to overseas countries, helping them establish “sovereign” artificial intelligence systems – ones that do not rely on the infrastructure of American tech giants.
A lingering question is: This company headquartered in Santa Clara, California, has been seeking help from the White House and lawmakers to sell artificial intelligence chips in China. Export restrictions to China have led to Nvidia losing billions of dollars in revenue.
Huang Renxun stated that his projections for the Blackwell and Rubin chips do not include sales in that country.
