Nvidia, the leading company with a market value of $4.39 trillion as of now, surpassed revenue projections for its fiscal second quarter, announcing sales of $46.74 billion on Wednesday after the markets closed.
Nvidia posted that data center revenue was up 56% from a year prior, reaching $41.1 billion.
The company’s veteran CEO, Jensen Huang, conveyed to Fox Business Network’s The Claman Countdown on a Thursday interview that their advancements in AI are likely to make “some jobs” obsolete while also leading to the creation of new ones.
“One thing for sure, every job will be changed as a result of AI,” Huang said.
Nvidia CEO Jensen Huang. Photo by Wan Quan/VCG via Getty Images
Huang further shared with Fox Business his belief that AI and automation will contribute to a prosperous economy in the future and improve the overall quality of life for humanity.
These comments echo Huang’s earlier insights shared last month on The All-In Podcast. During the podcast, Huang noted that those embracing AI would replace those who do not. He forecasted that AI utilization would produce more millionaires within the next five years than the Internet did over two decades.
Huang also described AI as the “greatest technology equalizer of all time,” since it enables anyone to write code using straightforward English commands, a process known as “vibe coding,” which even Google CEO Sundar Pichai has experimented with.
“AI in my case is creating jobs,” Huang stated on the podcast, emphasizing that the technology empowers individuals to “create things that others would want to buy.”
AI allows creative people to act on their ideas by providing technical services. In turn, it enables technical people to use it for creative endeavors, Huang pointed out.
Nvidia held 92% of the market share for AI chips in the first quarter of the year. Its chips power ChatGPT, an AI chatbot with more than 700 million weekly users as of this month, up from 500 million users in March.
Nvidia’s stock was up over 30% year-to-date at the time of writing.
Nvidia, the world’s most valuable company with a market capitalization of $4.39 trillion at the time of writing, beat revenue expectations for its fiscal second quarter, reporting sales of $46.74 billion on Wednesday after market close.
Nvidia posted that data center revenue was up 56% from a year prior, reaching $41.1 billion.
The company’s longtime CEO, Jensen Huang, told Fox Business Network’s The Claman Countdown on Thursday that AI, which Nvidia is advancing, would cause “some jobs” to disappear but result in new jobs becoming “invented.”
The rest of this article is locked.
Join Entrepreneur+ today for access.
