Nvidia CEO Jensen Huang Says Demand for Its Chips Is ‘Insane'

Demand for Nvidia's (NVDA) AI chips is "insane," CEO Jensen Huang said successful a televised question and reply Wednesday afternoon.

Huang said during an question and reply connected CNBC successful relationship pinch news of an expanded business pinch IT consulting patient Accenture (ACN) to thief companies usage artificial intelligence (AI) technology, nan companies announced Wednesday.

Shares of Nvidia, which closed 1.6% higher Wednesday, person much than doubled successful worth since nan commencement of nan twelvemonth arsenic companies person raced to bargain nan company's tech and build retired AI infrastructure. Accenture shares moved 1.2% higher Wednesday and person gained astir 1.5% successful 2024 truthful far. 

As portion of nan deal, Accenture will shape a caller business group pinch consultants trained to thief clients build civilization AI solutions and capabilities pinch Nvidia’s tech, arsenic good arsenic Meta’s (META) Llama postulation of open-source AI models.

“This business allows america to span a ample portion of nan world’s AI demand," Huang said, adding “this is nan opening of a caller activity called endeavor AI.”

Wedbush expert Dan Ives likened Nvidia’s moves to build an ecosystem of partners to those of tech stalwarts Microsoft (MSFT) and Oracle (ORCL), suggesting it could thief cement Nvidia’s position successful nan marketplace.