Just as Open AI CEO Sam Altman and Meta leader Mark Zuckerberg begin acknowledging that there may be truth to the warnings of an AI bubble, Jensen Huang is doubling down on his bullishness.
In a recent podcast appearance with Bill Gurley and Brad Gerstner, the Nvidia CEO brushed aside the growing caution and instead zeroed in on the company he sees as the next dominant force: OpenAI.
“OpenAI is very likely going to be the world’s next multitrillion-dollar hyperscale company,” Huang said.
That bold prediction comes at a moment when even AI’s loudest evangelists are warning of overvaluation and overbuilding. Altman himself has cautioned that too much money is flooding into unproven AI ventures, while Zuckerberg has compared today’s infrastructure frenzy to past bubbles. Yet Huang insists the skeptics are missing the deeper forces reshaping the economy. In his telling, the story comes down to basic physics, not hype.
“General-purpose computing is over,” Huang said, describing what he sees as a generational shift in how all industries will run. “The future is accelerated computing and AI.”
He outlined what he calls the “three scaling laws” of AI—pretraining, post-training, and inference—each of which exponentially increases demand for compute. While training workloads have already been well-documented, Huang stressed that inference—the real-time reasoning that underpins everything from chatbots to recommendation algorithms—is only just beginning.
“The longer you think, the better the answer you get—and thinking requires more compute,” he explained.
That framing matters because inference is where AI collides with day-to-day usage. Training runs happen in bursts, but inference happens constantly: Every chatbot prompt, every AI video render, every background algorithmic tweak consumes processing power. If Huang is right, that relentless demand means AI won’t follow the boom-and-bust cycles of earlier technologies but will instead drive a compounding need, one that will also boost Nvidia.
Huang’s comments came just days after Nvidia announced its most audacious deal yet: a $100 billion investment in OpenAI to help fund the company’s massive data center build-out. It’s the largest example of what analysts call Nvidia’s “circular financing” strategy, in which it invests in, or lends to, customers who in turn spend billions on Nvidia’s GPUs.
To Huang, it’s a smart way to align incentives with a once-in-a-generation partner scaling faster than any company in history. “If that’s the case, the opportunity to invest before they get there is one of the smartest investments we can imagine,” he said.
