Nvidia’s Jensen Huang plays down competition worries as key supplier disappoints with subdued expectations for AI chip sales

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., speaks during an event in Taipei, Taiwan, on Sunday, June 2, 2024. Huang said the company plans to upgrade its AI accelerators every year, announcing a Blackwell Ultra chip for 2025 and a next-generation platform in development called Rubin for 2026. (Credit: Annabelle Chih—Bloomberg/Getty Images)

Nvidia will remain the gold standard for AI training chips, CEO Jensen Huang told investors, even as rivals push to cut into his market share and one of Nvidia’s major suppliers gave a subdued forecast for AI chip sales.

Everyone from OpenAI to Elon Musk’s Tesla rely on Nvidia semiconductors to run their large language or computer vision models. The rollout of Nvidia’s Blackwell system later this year will only cement that lead, Huang said at the company’s annual shareholder meeting on Wednesday.