Key Takeaways
The CEO also highlighted the benefits of Nvidia’s products to customers, saying every dollar cloud companies spend on Nvidia’s infrastructure equates to $5 in rental fees for the company.
Shares of Nvidia Corp. (NVDA) soared 8% on Wednesday after CEO Jensen Huang said the company is facing “incredible” demand.
“It’s all sold out,” Huang said at Goldman Sachs’ Communacopia+ technology conference as clients seek out Nvidia’s infrastructure to support artificial intelligence (AI).
“We are now partnering with every AI company in the world,” Huang said, according to a recording provided by AlphaSense. “Everyone is counting on us.”
Nvidia’s chips are used by several major cloud providers, including Microsoft (MSFT) and Amazon (AMZN), and both companies have told investors they plan to increase spending on AI infrastructure.
Huang emphasized that NVIDIA’s products also have big benefits for customers, saying that every dollar that cloud companies spend on NVIDIA’s infrastructure equates to $5 in rental fees for the company.
Nvidia GPS on display at Oracle CloudWorld
Nvidia GPUs were also on display at the Oracle (ORCL) CloudWorld conference on Wednesday. The company announced Oracle Cloud Infrastructure (OCI) Supercluster, supported by Nvidia’s Blackwell platform with more than 100,000 GPUs for training and deploying AI models. The OCI Supercluster is expected to be available in the first half of 2025.
Oracle and Nvidia partnered at the conference to showcase how Nvidia’s platform can accelerate AI and data processing for enterprise customers.
Nvidia shares closed up 8% at $116.91 on Wednesday, partially recovering recent losses after the company reported a weaker-than-expected revenue forecast.
