After AI, Nvidia CEO Jensen Huang sees ‘multitrillion-dollar' opportunity in this tech sector. Details here
Nvidia CEO Jensen Huang has said other than artificial intelligence, robotics can turn out to be the chipmaker's biggest market for growth.
The 62-year-old CEO also claimed that self-driving cars would be the first major commercial application for the technology.
'We have many growth opportunities across our company, with AI and robotics the two largest, representing a multitrillion-dollar growth opportunity,' Huang said on Wednesday at Nvidia's annual shareholders meeting, in response to a question from an attendee.
A little over a year ago, Nvidia changed the way it reported its business units by grouping its automotive and robotics divisions into the same line item, CNBC reported.
In May, Nvidia said automotive and robotics had $567 million in quarterly sales, which was about 1 per cent of the company's total revenue. That particular business unit was up 72 per cent on an annual basis.
Nvidia's sales have been surging over the past three years due to heightened demand for the company's data centre graphics processing units, or GPUs, which are used to build and operate sophisticated AI applications such as OpenAI's ChatGPT.
Total sales have soared from about $27 billion in its fiscal 2023 to $130.5 billion last year, and analysts are expecting nearly $200 billion in sales this year, according to the news agency.
While robotics remains relatively small for Nvidia at the moment, Huang said applications will require the company's data centre AI chips to train the software as well as other chips installed in self-driving cars and robots, the news agency said.
Huang highlighted Nvidia's Drive platform of chips, and software for self-driving cars, which Mercedes-Benz is using. He also said the company recently released AI models for humanoid robots called Cosmos.
'We're working towards a day where there will be billions of robots, hundreds of millions of autonomous vehicles, and hundreds of thousands of robotic factories that can be powered by Nvidia technology,' Huang said.
Nvidia is increasingly offering more complementary technology alongside its AI chips, including software, a cloud service and networking chips to tie AI accelerators together. Huang said that Nvidia's brand is evolving with time, and that it's better described as an 'AI infrastructure' or 'computing platform' provider.
'We stopped thinking of ourselves as a chip company long ago,' Huang said.
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