Jensen Huang expects Nvidia to grow another 70% next year

Nvidia projects $680 billion in revenue next year as demand for its massive $8.5 million AI systems keeps surging.

Speaking at the Goldman Sachs Communacopia + Technology conference, CEO Jensen Huang doubled down on his prediction that Nvidia will grow 70% year-over-year. TechCrunch reported that Huang brushed off worries about rising chip competition, pointing out that Nvidia powers virtually every major AI model and tracks global data center capacity down to the gigawatt.

Why it matters: Big tech labs and hyperscalers are building custom chips, but Nvidia still owns the AI ecosystem. Modern "GPUs" aren't $399 gaming cards anymore—they are $8.5 million server systems built with 2 million parts. As long as AI startups keep spending billions on infrastructure, Nvidia sits right in the middle of the cash flow.

Know this: Orders for Nvidia's system combining 36 Grace CPUs and 72 Blackwell GPUs are currently growing 27% month-over-month. Huang also laughed off concerns about "circular" investments in AI startups, claiming Nvidia only invests when backed by real customer contracts: "We put in $1 and $100 comes back."

When you sell $8.5 million rigs to an industry hungry for compute, the party doesn't end quickly.