Nvidia CEO Jensen Huang’s view of generative AI’s hyper growth | interview

venturebeat.com:

Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.

Jensen Huang will be giving a keynote speech at the Computex 2023 event in Taiwan over the weekend, but he’s already riding high from the resurgence in AI demand thanks to the popularity of generative AI such as OpenAI’s ChatGPT.

Huang reported earnings on Wednesday that beat Wall Street’s expectations for revenues as well as expectations for the second half of the year. That in turn fueled a broad tech rally on Wall Street.

The AI and graphics chip company’s stock price rose 27% in the past couple of day from $305 a share to $389.25 today. With a market cap of $963 billion, Nvidia’s valuation is closing in on $1 trillion.

Thanks to strength in chips for the data center, Nvidia reported revenues of $7.19 billion for the first fiscal quarter ended April 30, down 13% from a year ago but above expectations. Data center revenue in the first-fiscal quarter was a record $4.28 billion, up 14% from a year ago and up 18% from the previous quarter.

GamesBeat Summit 2023

Join the GamesBeat community for our virtual day and on-demand content! You’ll hear from the brightest minds within the gaming industry to share their updates on the latest developments.

I spoke briefly with Huang after the earnings announcement this week and he filled me in on his confidence in the AI surge as well as Nvidia’s ability to line up manufacturing to meet this demand. But he didn’t think there was a surge coming in the broader economy in the second half. And he noted that gaming, while down from a year ago, is back to quarterly growth from previous quarters.

Here’s an edited transcript of our interview.

GamesBeat: It looks like you guys have a cheerful