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Jensen Huang reiterates AI market valuation prediction of $3 trillion to $4 trillion by 2030

Jensen Huang reiterated his expectation that the artificial intelligence market will reach a valuation of $3 trillion to $4 trillion by 2030. Speaking at the Goldman Sachs Communacopia & Tech conference, Huang noted that the semiconductor industry will continue to expand due to new computing layers and the end of Moore's law.

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He attributed the growth to the demand for smarter AI models that minimize incorrect answers. Nvidia reported adjusted earnings per share of $2.22 on revenue of $96.2 billion for its most recent quarter, exceeding analyst expectations of $2.09 per share and $92.3 billion in revenue. Data Center revenue reached $89 billion, surpassing the projected $85.8 billion, while Edge Computing revenue was $7.2 billion against a projected $6.6 billion. Huang projected 70% revenue growth for fiscal year 2028, which was higher than the 45% growth forecast by analysts. He stated that growth would exceed 100% if not for memory chip shortages. Michael Intrator, CEO of CoreWeave, stated that the company struggles to meet demand daily, noting that every GPU is in high demand across multiple clients.

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