Jensen Huang says Nvidia's compute is embedded across the entire AI stack and next year's growth will be organic, not vendor-financed.
Nvidia CEO Jensen Huang told investors the company expects roughly 70% revenue growth next year, driven by demand across cloud providers, sovereign AI buildouts, and enterprise deployments. Huang pushed back directly on concerns that Nvidia's investments in customers like OpenAI are propping up demand through circular financing arrangements.
The comments come as scrutiny intensifies over whether AI infrastructure spending is sustainable or increasingly self-referential, with chipmakers investing in the same labs that buy their hardware.
A 70% growth call from the industry's bellwether chip supplier is a demand signal every CFO planning 2027 AI capex will reference. But the circularity question matters more than the number: if Nvidia's customer investments are inflating apparent demand, the entire AI infrastructure valuation chain is more fragile than it looks.
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