Jensen Huang Reaffirms Nvidia's 70% Growth Forecast at Goldman Sachs Conference

During the Goldman Sachs Communicopia + Technology conference on Thursday, Jensen Huang, the CEO of Nvidia, expressed optimism about achieving a 70% increase in revenue year-over-year for the upcoming fiscal year, following a record quarterly performance. Analysts anticipate that Nvidia's revenue for the current fiscal year will be around $400 billion, with the possibility of reaching $680 billion if this growth continues. Huang highlighted Nvidia's significant position in the AI landscape, collaborating with companies like Anthropic, OpenAI, and Google. He mentioned a system featuring 36 Grace CPUs and 72 Blackwell GPUs, which is growing at a rate of 27% month-over-month, and referred to a GPU product valued at $8.5 million. Huang also tackled worries regarding circular deals, clarifying that Nvidia insists on legitimate customer contracts and has secured $100 billion in agreements. The competition from Amazon, Microsoft, Google, and others is intensifying.