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Jensen Huang, CEO of Nvidia Corp., addressed the growing customer frustration and heightened tensions stemming from the high demand for the company’s products at a Goldman Sachs technology conference in San Francisco. Huang acknowledged the intense competition for Nvidia’s limited supplies, stating, “The demand is extremely high, and everyone wants to be first and secure the most. We probably have more frustrated customers now, which is only natural. It’s a tense environment, but we’re doing our best to manage it.”
Huang highlighted that Nvidia’s latest chip generation, known as Blackwell, is experiencing significant demand. The company outsources the manufacturing of its physical hardware, and Huang noted that its vendors are working hard to catch up with the demand.
Nvidia’s chips are vital for data centers involved in developing and running artificial intelligence models. This surge in demand for AI services has led to a substantial increase in both sales and stock prices. Nvidia’s stock price has more than doubled this year, following a 239% rise in 2023. On Wednesday, the stock saw its largest single-day increase in six weeks, rising by 8.1% to $116.91 in New York.
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