Nvidia
CEO
Jensen
Huang
delivers
his
keystone
speech
ahead
of
Computex
2024
in
Taipei
on
June
2,
2024.
Sam
Yeh
|
AFP
|
Getty
Images
Nvidia
CEO
Jensen
Huang
said
on
Wednesday
that
the
company’s
advantage
in
artificial
intelligence
chips
was
due
to
a
bet
it
made
more
than
10
years
ago,
centering
on
billions
of
dollars
in
AI
investment
and
a
team
of
thousands
of
engineers.
Huang’s
comments
came
during
the
Q&A
period
of
Nvidia’s
shareholder
meeting
following
a
more
than
200%
surge
in
the
stock
over
the
past
year.
Wall
Street
has
been
enamored
by
the
company’s
dominant
position
in
the
AI
chip
market.
Nvidia
recently
split
its
stock
10-for-1,
passed
a
$3
trillion
valuation
and
briefly
reached
the
status
of
most
valuable
public
company.
The
first
question
Huang
answered
Wednesday
was
about
the
company’s
competition,
as
traditional
chipmakers
and
startups
alike
release
products
intended
to
challenge
Nvidia’s
more
than
80%
market
share
in
AI
chips.
Nvidia
shares
fell
more
than
1%
in
trading
on
Wednesday.
Without
naming
competitors,
Huang
laid
out
the
company’s
overall
strategy
to
maintain
its
position,
leading
with
the
idea
that
Nvidia
has
already
“transformed”
into
a
data
center-focused
company
from
its
previous
gaming
focus.
The
company
is
also
looking
to
create
new
markets
for
its
AI,
such
as
in
industrial
robotics,
and
it
aims
to
partner
with
every
computer
maker
and
cloud
provider
to
do
so.
Huang
said
its
AI
chips
provide
the
“lowest
total
cost
of
ownership,”
suggesting
that
while
other
chips
may
be
less
expensive,
Nvidia’s
are
more
economical
considering
their
performance
and
cost
to
run.
Ultimately,
Huang
said
Nvidia
had
achieved
a
“virtuous
circle,”
a
term
in
the
technology
industry
that
refers
to
when
a
platform
has
the
most
users,
which
allows
it
to
make
the
improvements
it
needs
to
attract
even
more
users.
“The
NVIDIA
platform
is
broadly
available
through
every
major
cloud
provider
and
computer
maker,
creating
a
large
and
attractive
install
base
for
developers
and
customers,
which
makes
our
platform
more
valuable
to
our
customers,”
Huang
said.
Nvidia
shareholders
were
pleased
with
the
company’s
performance
and
approved
a
nonbinding
vote
on
executive
compensation
called
“say
on
pay.”
Nvidia
executives
are
paid
in
a
combination
of
salary
and
various
kinds
of
restricted
stock
units.
Huang
received
a
compensation
package
worth
about
$34
million
during
the
company’s
2024
fiscal
year,
a
60%
increase
since
2023,
according
to
the
company’s
annual
filing.
