Jensen Huang Dismisses Concerns of Memory Oversupply
NVIDIA CEO Jensen Huang denied concerns of a memory oversupply in 2029. Asked about the possibility of a memory glut in an interview with U.S. business network CNBC at the company's GTC developer conference held in Berlin, Germany, on Tuesday (local time), Huang replied, "I don't think so." "The real virtue of memory is that the more you have, the better," he said, adding that memory demand will keep growing. His remarks came amid predictions that a so-called 'super cycle' would end with a memory oversupply in 2029.
Asked whether he would be open to using products from China's CXMT, Huang said, "Of course, we keep an open mind."
Huang also weighed in on concerns about so-called 'neocloud' companies. Demand for these firms — including CoreWeave, Nebius, and Iren, which have recently raised concerns among investors — is exploding, he said. He went on to argue that what constrains these companies' growth is not demand but working capital, and that "the issue will be resolved in the sense that what fundamentally matters is the value these companies provide."
His rebuttal came as tech stocks continued to tumble. The U.S. stock market in New York closed sharply lower on Tuesday (local time), led by technology stocks, with the Nasdaq Composite falling 2.6% to 26,008.86. The Philadelphia Semiconductor Index plunged as much as 7% intraday, with NVIDIA, AMD, and Micron all declining, while CoreWeave closed down about 10%.
