Nvidia’s Huang expects to sell twice as many chips next year

Jensen Huang told reporters at King Charles III’s AI summit in Scotland that he expects to sell twice as many chips in the coming year. Nvidia’s own August guidance was 70% revenue growth, with a doubling described as what the company could reach if it had enough supply.

Jensen Huang expects to sell twice as many chips in the coming year, he told reporters at an event convened by King Charles III in Scotland, Bloomberg reported. He put it down to AI spreading across industries.

That is a larger number than his own company has guided to.

Last month Nvidia forecast 70% revenue growth for its next fiscal year. Finance chief Colette Kress said the company was supply constrained, and that revenue could double if it were not.

Units and revenue are different measures, and the distance between the two is the story.

Nvidia posted $96.2B in revenue for the quarter to 26 July, more than double the same period last year, and guided to $108B for the current one. Doubling the number of chips it ships means capacity that does not exist yet.

Which raises the question of who is at the front of the queue.

Europe is planning up to seven AI gigafactories, and it will be buying on the open market. The Commission has budgeted around EUR 30B in total, of which roughly EUR 1B of the public share is committed. The tender call went out on 30 July.

Nvidia takes about that much in data centre revenue in a day.

The Commission’s own figure is around 100,000 chips for each gigafactory, four times what an AI factory holds. Construction on the first starts in 2027 and the sites are meant to be running from 2028. Seventy-seven proposals came in from 16 member states across 60 sites.

Huang’s doubling, if it happens, happens before any of that is switched on.

He spent the rest of the afternoon on safety. At the same summit he argued that AI should not be regulated like social media, because it is a technology underneath products rather than a product itself.

He also said an unsafe product should be held back and engineered further. Around 30 executives, policymakers and researchers were in the room. Industry figures there had raised slowing development down.

Nvidia shares rose as much as 2.8% in New York and are up about 17% this year. The chips Europe is counting on for 2028 come out of the same order book.