Nvidia CEO Huang Renxun said on Wednesday at the annual shareholder meeting that the time for the automation of the $50 trillion heavy industry in the next wave of artificial intelligence has come under the company's advanced chips.
Huang Renxun said that artificial intelligence has penetrated into many industries, from technology to medical health. But he also pointed out that there are more growth paths in the larger areas of the global economy where artificial intelligence has not yet been widely adopted.
"The next wave of artificial intelligence will automate the $50 trillion heavy industry," Huang Renxun said.
Huang Renxun talked positively about the prospects of Nvidia, saying that the company has created a forward path for computing in the future, which took about 20 years to reach. Nvidia now serves over 5 million developers and 40,000 businesses, including thousands of artificial intelligence companies.
"Nvidia's accelerated computing has reached a critical point, achieving a virtuous cycle," he said.
However, Huang Renxun did not say anything particularly reassuring at the shareholder meeting, such as how Nvidia will resist competitors and maintain its leading position, nor did he say anything that would change the game rules that were not mentioned at the GTC conference in March.
He also did not mention when the company's next-generation artificial intelligence chip Blackwell will be available on the market, although he said it will be the "most successful product" in Nvidia's history. He announced the chip at the GTC conference, but have not provided any information about its price or availability. The chip runs at least twice as fast as its predecessor, the H100.
These are obviously not enough for shareholders, and Nvidia's stock price fell more than 2% after hours on Wednesday.