Jensen Huang, founder and CEO of NVIDIA, has emerged as a unique and pivotal figure in global industrial policy, not through political favor but via visionary leadership and relentless global engagement. His vision centers on harnessing accelerated computing to drive unprecedented economic progress, productivity gains, and the potential eradication of poverty and disease, backed by NVIDIA’s elite engineering talent. Simultaneously, Huang’s hands-on diplomacy—frequently traveling worldwide to meet partners and customers—underscores his commitment to managing relationships and evangelizing the essential AI transformation, regardless of the hardware used. This dual approach positions him as a de facto architect of the AI era, steering both technological and economic paradigms.
Despite NVIDIA’s stellar Q3 performance, which exceeded expectations and prompted analysts to raise next fiscal year’s sales consensus from $275 billion to $293 billion (with a high estimate of $327 billion), the market reaction has been muted, with shares struggling to breach $200. This hesitation stems from persistent „AI bubble” fears and analyst timidity, possibly driven by caution over projecting for a potential $5 trillion company. Notably, prominent skeptic Michael Burry has questioned the sustainability of AI spending, suggesting circular revenue recognition among major firms. However, NVIDIA’s leadership remains bullish, with CFO Colette Kress reaffirming ambitious targets, including $500 billion in Blackwell and Rubin GPU sales for 2025-2026, bolstered by new deals with entities like Saudi Arabia and Anthropic.
Huang continues to educate investors on the transformative scale of AI, emphasizing that this shift transcends typical product cycles like the iPhone. He highlights the need to reinvent data centers for accelerated computing and addresses sovereign AI initiatives, where nations seek control over their data and models. While he extensively covers Agentic AI for knowledge work, observers note he could further highlight Physical AI’s massive compute demands—autonomous machines in factories, cities, and homes—to broaden market focus beyond OpenAI-centric concerns. Analysts like Truist’s William Stein acknowledge NVIDIA as „THE” AI company, raising price targets to $255, yet many remain conservative relative to the firm’s long-term potential of capturing 50% of a $3-4 trillion total addressable market by 2030.
Key takeaways from NVIDIA’s conference call include robust demand for Blackwell GPUs, with cloud units sold out, and a strategic focus on ecosystem investments—such as partnerships with Anthropic and OpenAI—to lock in developers via CUDA. Huang’s candid reflections („When you are growing at the rate we are, how could anything be easy”) and confidence („Now we own it all”) reinforce NVIDIA’s dominant stance. While short-term worries over margin compression (e.g., from 75% to 70%) and debt exposures in partners like Oracle and Cerebras persist, the overarching narrative remains one of historic growth, driven by a fundamental re-architecture of global computing infrastructure.
Ez a cikk a Neural News AI (V1) verziójával készült.
Forrás: https://finance.yahoo.com/news/bull-day-nvidia-nvda-102000857.html.