Nvidia CEO dismisses criticism of investments in customers
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Santa Clara () – Nvidia CEO Jensen Huang is rejecting the accusation that his corporation is fueling the AI bubble with equity stakes in customers. "That is false," he told the "Handelsblatt". Nvidia has invested 30 billion dollars in OpenAI. However, the company needs far more money for its computing power, which is why Nvidia obviously did not finance its demand. Regarding the troubled cloud provider Coreweave, Huang said he does not consider a bailout necessary. The business is "in good shape," but procuring working capital is becoming more expensive. Demand for Nvidia chips will exceed supply for "many years," according to the Nvidia CEO. With 5.2 trillion dollars, Nvidia is the most valuable company in the world, but it depends on a few customers. In the second quarter of the fiscal year, which ended on July 26, the corporation generated 70 percent of its revenue with its five largest buyers. The company also underwrites the construction of data centers: For OpenAI's campus in Ohio, the corporation is guaranteeing up to 105 billion dollars. In addition, there are guarantees of 3.5 billion dollars for other data center operators. Nvidia holds more than seven billion dollars in so-called neoclouds, young providers of AI computing power. Jensen Huang Nvidia, OpenAI, Coreweave, Handelsblatt Not mentioned Santa Clara Nvidia CEO Jensen Huang rejects the accusation that he is...
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