Nvidia CEO Jensen Huang says his company will keep growing fast. He spoke on Thursday at the Goldman Sachs Communacopia + Technology conference.
Huang told the crowd that Nvidia's revenue could grow 70% year over year next year. He first shared this forecast last month after Nvidia posted another record quarter.
Analysts expect Nvidia to end its current fiscal year with close to $400 billion in revenue. A 70% increase would push that number toward $680 billion.
Huang said Nvidia's size is often misunderstood. He said people think of Nvidia as a chip company, but shipping its products now requires airplanes.
He pointed out that a single Nvidia GPU used to cost $399 for gaming computers. Today, one advanced GPU system costs $8.5 million and includes millions of parts.
Huang said orders for Nvidia's newest system, which pairs 36 Grace CPUs with 72 Blackwell GPUs, are growing 27% each month.
Why Huang Says He Can Predict the Future
Huang said Nvidia works with nearly every major AI company. That includes labs like Anthropic, OpenAI, and Google, along with companies building open-weight AI models.
He said this gives Nvidia visibility into demand across the entire AI industry. He also said Nvidia tracks data center land, power, and construction projects around the world.
Huang said cloud companies, hardware makers, and AI startups regularly share updates with Nvidia. He said this helps the company understand where AI infrastructure is being built.
Huang Responds to Questions About Circular Deals
Huang faced questions about Nvidia's investments in companies that later purchase Nvidia products. Critics have compared this pattern to deals that hurt earlier tech suppliers, including Lucent Technologies.
Huang pushed back on the comparison. He said Nvidia puts in a small amount of money and gets a much larger amount back through real customer contracts.
He said Nvidia only invests after confirming a company has paying customers. He estimated Nvidia has tracked about $100 billion worth of these contracts.
Huang said he is not taking risks with these deals. He said he needs proof of real revenue before Nvidia commits.
Much of today's AI spending comes from newer AI startups. These companies have raised large amounts of money and are using much of it on AI infrastructure.
Huang said Nvidia continues to supply chips to hyperscalers building their own AI hardware, including Amazon, Microsoft, and Google. He also named newer chip competitors, including Cerebras and Etched.
Despite this competition, Huang said Nvidia remains central to how AI labs build and run their models. He repeated that Nvidia expects 70% revenue growth next year.
