Nvidia CEO Jensen Huang: We are at the beginning of a new industrial revolution

Summary

In a White House meeting with tech CEOs, NVIDIA's Jensen Huang discussed the dawn of an AI-driven industrial revolution, emphasizing the need for public-private collaboration to address the energy-intensive nature of AI. He highlighted AI's potential to revolutionize industries, reduce costs, and save energy. Huang also touched on the importance of stable policies for export controls, supply chain resilience, and the company's commitment to compliance. He expressed trust in the administration's nuanced approach to complex issues like tariffs and tax rates, without taking a stance on the 2024 election, focusing instead on NVIDIA's technological advancements and the upcoming Blackwell production.

Takeaways

• 🤖 The White House convened a meeting with top tech CEOs to discuss the future of AI, emphasizing the beginning of a new industrial revolution focused on producing intelligence.
• 💡 Jensen Huang of NVIDIA highlighted the importance of energy, computer science, and large computing systems in the growth of AI, suggesting a need for public and private collaboration.
• 🔋 AI is acknowledged for its high energy consumption during training but also for its potential to save energy in various applications, such as healthcare, climate technology, and power grid management.
• 🌐 Huang expressed confidence in the Biden administration's commitment to fostering an environment for AI growth, noting their determination to act swiftly and decisively.
• 💸 There was a discussion about the necessity of federal investment alongside private investment to support the rapid growth of the AI industry.
• 🏛️ The U.S. is striving to be competitive in AI with China and other nations, with the administration showing a strong intent to lead in this field.
• 💼 Jensen Huang did not express a preference for any particular candidate in the 2024 election, focusing instead on the stability and adaptability of policies to support the tech industry.
• 📉 The interview touched on export controls and national security, with Huang advocating for a nuanced approach that balances industry growth with security concerns.
• 💵 On the topic of tariffs, Huang stated that NVIDIA serves a global clientele and trusts the administration to make nuanced decisions that consider the complexity of international trade.
• 💹 Regarding corporate tax rates, Huang expressed that NVIDIA would support whatever rates are decided, showing a willingness to contribute through taxes to the country that nurtured its growth.
• 🚀 NVIDIA is gearing up for the production of 'Blackwell,' a new generation of technology that aims to significantly increase performance and reduce the cost of AI and computing.

Q & A

What was the main topic of the meeting at the White House?

The main topic of the meeting was Artificial Intelligence (AI), discussing its growth, opportunities, and challenges, as well as the need for public and private collaboration in this field.

What did Jensen Huang discuss regarding the new industry called AI factories?

Jensen Huang discussed that AI factories are part of a new industrial revolution focused on producing intelligence. He emphasized the need for energy, computer science, and large computing systems, and the importance of addressing the challenges and opportunities efficiently and scalably.

What is Jensen Huang's view on the necessity of federal investment in AI?

Jensen Huang believes there will likely be a need for public/private collaboration due to the high growth rate of AI. He suggests that while AI consumes a lot of energy for training, it also has the potential to save energy in various applications.

How does Jensen Huang perceive the U.S.'s competitiveness in AI compared to China and other countries?

Jensen Huang commends the current administration's determination to be proactive and fast in advancing AI, indicating confidence in the U.S.'s efforts to maintain competitiveness.

What is NVIDIA's stance on export controls and national security?

NVIDIA supports a balanced approach to export controls and national security, aiming for U.S. industries to be vibrant and to export American standards globally while safeguarding national security.

What is Jensen Huang's opinion on the potential impact of tariffs on NVIDIA's business?

Jensen Huang did not express a specific opinion on tariffs but mentioned that NVIDIA serves a global clientele across various industries and trusts that the administration will make nuanced decisions.

Does Jensen Huang have a preference for a particular candidate in the 2024 election?

Jensen Huang did not endorse any specific candidate, focusing instead on NVIDIA's commitment to technology development and support for whichever administration is in power.

What is NVIDIA's position on corporate tax rates?

NVIDIA is open to whatever the corporate tax rates may be, expressing a willingness to pay back through taxes as they were built in America and have benefited from its infrastructure and support.

What is NVIDIA's next major project mentioned in the transcript?

NVIDIA is gearing up for the production of their next generation, Blackwell, which aims to significantly increase performance and reduce the cost of computing and AI.

How does Jensen Huang view the role of stability in policy for NVIDIA and the tech industry?

Jensen Huang emphasizes the importance of stable policies for the tech industry, especially in export controls, and appreciates the challenges faced by the administration in adapting to a rapidly changing environment.

Outlines

00:00

🤖 White House A.I. Meeting and Public-Private Collaboration

The first paragraph discusses a significant meeting at the White House involving tech CEOs, focusing on artificial intelligence (A.I.). Jensen Huang from NVIDIA was interviewed, highlighting discussions about the emerging 'A.I. factories' industry and its role in the new industrial revolution. The conversation emphasized the need for energy, computer science, and large-scale computing systems. Huang stressed the importance of public-private collaboration due to the rapid growth of A.I. and its potential to save energy in various sectors like healthcare and climate technology. He also touched on the U.S.'s competitiveness with China, expressing confidence in the Biden administration's proactive approach. The discussion also included the balance between export controls, national security, and promoting American standards globally.

05:01

💼 NVIDIA's Stance on Policy, Taxes, and Future Technology

The second paragraph continues the interview with Jensen Huang, discussing NVIDIA's position on policy stability, which is crucial for export control. Huang appreciates the administration's challenges in adapting to real-time changes and emphasizes the company's commitment to being the best choice for safety and technology. He avoids taking a stance on the 2024 election but emphasizes the importance of stability for business. On the topic of taxes, Huang expresses that NVIDIA will support whatever tax rates are decided, showing gratitude for the company's American roots and its willingness to contribute through taxes. The paragraph concludes with Huang discussing NVIDIA's upcoming technology, 'Blackwell,' which is in full production and expected to significantly increase performance while reducing the cost of computing and A.I., thus driving industry demand.

Keywords

💡A.I. Factories

A.I. Factories refer to the concept of industries or facilities that are dedicated to the development and production of artificial intelligence technologies and applications. In the context of the video, Jensen Huang from NVIDIA discusses the rise of A.I. factories as a new industry that will produce intelligence, emphasizing the need for energy and advanced computing systems. This term is central to the video's theme of the emerging industrial revolution driven by A.I.

💡Artificial Intelligence (A.I.)

Artificial Intelligence, or A.I., is the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The video script highlights A.I. as a transformative technology that is at the forefront of a new industrial revolution, with potential applications across various sectors such as healthcare, climate technology, and power grid management.

💡Energy

In the script, energy is discussed in relation to the resources required to power and train A.I. systems. It is noted that while A.I. consumes a significant amount of energy for training, it also has the potential to save energy through its applications, such as optimizing power grid operations. Energy is a critical factor in the development and sustainability of A.I. technologies.

💡Public/Private Collaboration

Public/Private Collaboration is the concept of partnerships between government entities and private sector companies to achieve common goals. The video emphasizes the need for such collaboration in the advancement of A.I., suggesting that the rapid growth of the industry requires a combined effort from both public and private investments to harness the full potential of A.I. technologies.

💡Export Controls

Export Controls are regulations that govern the shipment of goods and technologies out of a country. In the context of the video, Jensen Huang touches upon the complexity of export controls, particularly in relation to A.I. technologies, and the need for a balanced approach that promotes global standards while safeguarding national security interests.

💡National Security

National Security refers to the measures taken by a nation to protect itself against threats to its security, sovereignty, and interests. The video script mentions the importance of national security in the context of A.I., highlighting the need to ensure that advancements in the field do not compromise the safety and security of the nation.

💡Supply Chain Resilience

Supply Chain Resilience is the ability of a supply chain to withstand and recover from disruptions. The video discusses the importance of resilient supply chains, especially in the context of A.I., where dependencies on global components and technologies can be vulnerable to various risks.

💡Tariffs

Tariffs are taxes imposed on imported goods and services. The video script briefly mentions the potential impact of tariffs, particularly those imposed on Chinese goods, on the business environment and the broader implications for companies like NVIDIA that operate globally.

💡Corporate Tax Rate

The Corporate Tax Rate refers to the percentage of profits that corporations are required to pay in taxes. The video script includes a discussion on the potential changes in corporate tax rates and the impact these changes might have on businesses. Jensen Huang expresses NVIDIA's willingness to support whatever tax rate is determined, highlighting the company's commitment to contributing to the country that has supported its growth.

💡Blackwell

Blackwell, as mentioned in the video, is a reference to a new generation of NVIDIA's technology, presumably a computing platform or chip. The script indicates that NVIDIA is eager to begin production of Blackwell, which is expected to significantly increase performance and reduce the cost of computing and A.I., further driving the advancement of the industry.

Highlights

Meeting with Biden administration and tech CEOs focused on A.I. and energy efficiency.

Jensen Huang discusses the beginning of a new industrial revolution driven by A.I. factories.

Emphasis on the need for public and private collaboration in the growth of A.I.

A.I.'s potential to save energy in various sectors like healthcare and power grid management.

Importance of U.S. competitiveness in A.I. against China and other countries.

Jensen Huang's view on the administration's determination and speed in A.I. development.

The significance of A.I. as a new way of doing software and its impact on the computer industry.

Export controls and national security as complex matters requiring nuanced policy.

NVIDIA's role in serving every A.I. company globally and its stance on policy stability.

Jensen Huang's trust in the administration's decision-making regarding tariffs.

NVIDIA's commitment to compliance with policies and contributing to the industry.

The impact of tax rates on NVIDIA and the company's willingness to support whatever rates are set.

NVIDIA's focus on technology development and support for any administration in power.

Upcoming production of NVIDIA's Blackwell, promising significant performance improvements.

Each new generation of NVIDIA's technology reduces the cost and increases the performance of A.I.

High demand from companies worldwide for NVIDIA's Blackwell technology.

Transcripts

ALREADY CORRECTED.

>> YOU KNOW, SPEAKING OF NVIDIA,

THERE WAS A BIG MEETING TODAY IN

THE WHITE HOUSE OF TECH CEOs,

ESPECIALLY RELATED TO A.I.

OUTSIDE THE WHITE HOUSE, WE

CAUGHT UP TODAY WITH JENSEN

HUANG MOMENTS AGO.

>> Reporter: HEY, SCOTT, THAT'S

EXACTLY RIGHT.

WE'VE BEEN HERE OUTSIDE THE

WHITE HOUSE ALL MORNING BECAUSE

THERE WAS A MEETING BETWEEN THE

BIDEN ADMINISTRATION AND TOP

TECH LEADERS ON A.I.

WE SAW SAM ALTMAN OF OPENAI,

EXPECTED RUTH PORAT OF GOOGLE,

ANTHROPIC, BRAD SMITH OF

MICROSOFT TO BE HERE

WE CAUGHT UP WITH JENSEN HUANG

OF NVIDIA, AS YOU MENTIONED.

WE GOT TO TALK WITH HIM ABOUT

THE 2024 ELECTION, ABOUT THAT

MEETING, ABOUT A.I. AND HIS

THOUGHTS ON ALL OF IT.

WE HAVE THE TAPE HERE FOR YOU.

LET'S LISTEN IN.

WHAT CAN YOU TELL US ABOUT THE

MEETING TODAY?

>> WE WERE TALKING ABOUT ENERGY,

ABOUT THIS NEW INDUSTRY CALLED

A.I. FACTORIES AND ARTIFICIAL

INTELLIGENCE, AND OBVIOUSLY

WE'RE AT THE BEGINNING OF A NEW

INDUSTRIAL REVOLUTION, AND THIS

INDUSTRY IS GOING TO BE

PRODUCING INTELLIGENCE, AND WHAT

IT TAKES IS ENERGY AND, OF

COURSE, A LOT OF GREAT COMPUTER

SCIENCE AND LARGE COMPUTING

SYSTEMS.

WE'VE GOT TO MAKE SURE THAT

EVERYBODY UNDERSTANDS THE NEED

IS COMING, THE OPPORTUNITIES OF

IT, THE CHALLENGES OF IT, AND DO

IT IN THE MOST EFFICIENT AND

SCALABLE WAY WE CAN.

>> Reporter: ABSOLUTELY.

DO YOU SEE THE NEED OF A FEDERAL

ROLE, FEDERAL INVESTMENT IN

COMBINATION WITH PRIVATE

INVESTMENT

>> THERE'S PROBABLY GOING TO

HAVE TO BE PUBLIC/PRIVATE

COLLABORATION IN THIS AREA

BECAUSE THE RATE OF GROWTH IS

REALLY QUITE HIGH, ALTHOUGH --

ALTHOUGH, ARTIFICIAL

INTELLIGENCE CONSUMES A LOT OF

ENERGY TO TRAIN.

IT ALSO SAVES A LOT OF ENERGY

WHEN YOU CONSUME IT BECAUSE

ULTIMATELY IT'S ABOUT USING THE

MODEL.

WHETHER IT'S IN HEALTH CARE OR

CLIMATE TECHNOLOGY OR JUST

RUNNING THE POWER GRID,

ARTIFICIAL INTELLIGENCE HAS THE

OPPORTUNITY TO SAVE A TON OF

ENERGY

SO I THINK PEOPLE ARE GRAPPLING

WITH THE SCALE OF THE

OPPORTUNITY AHEAD AND, OF

COURSE, THE SCALE OF THE

CHALLENGES AHEAD

IT WILL REQUIRE PUBLIC AND

PRIVATE COLLABORATION.

>> Reporter: DO YOU THINK THE

U.S. IS DOING ENOUGH AT THIS

POINT TO BE COMPETITIVE WITH

CHINA AND OTHER COUNTRIES?

>> WELL, THIS ADMINISTRATION IS

DETERMINED TO DO THE MOST AND DO

IT THE FASTEST, AND THAT'S

REALLY SPEAKS VOLUMES THE REASON

WE HAD THIS MEETING TODAY.

IT'S REALLY GREAT.

>> Reporter: IS THERE ENOUGH

MONEY BEHIND IT AT THIS POINT?

>> IF THIS COUNTRY DOESN'T HAVE

THE MONEY, I DON'T SEE ANYBODY

ELSE IN THE WORLD THAT CAN

POSSIBLY TAKE ADVANTAGE OF THIS

INCREDIBLE NEW INDUSTRY, AND SO,

YOU KNOW, I THINK PEOPLE ARE

STARTING TO REALIZE THAT A.I. IS

NOT JUST A NEW COMPUTER SCIENCE.

IT'S A NEW WAY OF DOING

SOFTWARE

IT WILL REVOLUTIONIZE THE

COMPUTER INDUSTRY AND WILL

CREATE A WHOLE NEW INDUSTRY THAT

SITS ON TOP OF IT THAT PRODUCES

INTELLIGENT SKILLS AND PRODUCES

KNOWLEDGE, AND THIS INDUSTRY IS

GOING TO BE QUITE LARGE, IS

GOING TO BE, HOPEFULLY, THE MOST

EXCITING OF THE NEW INDUSTRIES

THE WORLD HAS EVER SEEN.

>> Reporter: CAN I ASK YOU A

QUESTION ABOUT EXPORT CONTROLS

ANY POLICY YOU WOULD LIKE TO SEE

CHANGED TO MAKE SALES OVERSEAS

>> EXPORT CONTROL AND NATIONAL

SECURITY, INDUSTRIAL RESILIENCE,

SUPPLY CHAIN RESILIENCE ARE

COMPLICATED MATTERS.

THIS ADMINISTRATION UNDERSTANDS

THE NUANCE OF IT

WE WOULD LIKE TO SEE THE U.S.

INDUSTRIES BE AS VIBRANT AS

POSSIBLE TO EXPORT AMERICAN

STANDARDS ALL OVER THE WORLD AND

TO HAVE THE REST OF THE WORLD BE

BUILT ON AMERICAN STANDARDS.

OF COURSE NATIONAL SECURITY IS

INCREDIBLY IMPORTANT AND WE HAVE

TO SAFEGUARD ALL OF THAT AT THE

SAME TIME.

AND SO THIS IS WHY POLICYMAKERS

HAVE SUCH A DIFFICULT JOB, THEY

HAVE TO BALANCE ALL OF THESE

VARIOUS REQUIREMENTS AND MAKE

SURE THAT WE HAVE A GREAT POLICY

THAT SOMEHOW BALANCES AND KEEPS

ALL OF THIS UP IN THE AIR AND

THRIVING

AND SO I THINK -- AND THE MOST

IMPORTANT THING FOR US, MAKE

SURE THAT WE INFORM THE

ADMINISTRATION ON WHAT WE KNOW

ABOUT THE TECHNOLOGY AND THE

INDUSTRY THAT WE'RE CULTIVATING

AND 100% MAKE SURE WE COMPLY

WITH THE POLICIES.

>> Reporter: CAN I ASK YOU ONE

MORE QUESTION ON TARIFFS,

THERE'S A LOT OF TALK

ACROSS-THE-BOARD TARIFFS OF 10%

TO 20% AND UP TO 60% ON CHINA.

DO YOU HAVE CONCERNS ABOUT HOW

THAT WOULD IMPACT NVIDIA'S

BUSINESS OR CONCERNS ABOUT THE

POLICY IN GENERAL?

>> I'M NOT VERY INFORMED IN MOST

OF THAT STUFF.

OUR COMPANY, OF COURSE, SERVES

INDUSTRIES GLOBALLY, AND WE'RE

ONE OF THE FEW COMPANIES IN THE

WORLD THAT SERVES EVERY SINGLE

A.I. COMPANY IN THE WORLD, AND

WE'RE IN HEALTH CARE AND

LOGISTICS AND TRANSPORTATION AND

RETAIL

THE NUMBER OF INDUSTRIES THAT WE

SERVE IS REALLY QUITE LARGE.

AND OBVIOUSLY ALL OF THESE

MATTERS ARE COMPLICATED AND

REQUIRES NUANCED THINKING FROM

THE ADMINISTRATION, SO I TRUST

THAT THEY'RE GOING TO MAKE GREAT

DECISIONS.

>> Reporter: ABSOLUTELY.

THE NUMBER ONE THING WE TEND TO

HEAR FROM BUSINESS LEADERS IS ON

STABILITY, ESPECIALLY WHEN IT

COMES TO THIS ELECTION

DO YOU HAVE THOUGHTS ON

SUPPORTING ONE CANDIDATE OVER

THE OTHER ESPECIALLY WHEN IT

COMES TO KEEPING A STRONG,

STABLE BUSINESS ENVIRONMENT?

>> ONE OF THE THINGS THAT'S

REALLY IMPORTANT, AND THIS

AFFECTS US IN EXPORT CONTROL, IS

TO HAVE A STABLE POLICY.

OF COURSE POLICIES HAVE TO ADAPT

TO THE CHANGING ENVIRONMENT, AND

IN OUR WORLD, A CHANGING

ENVIRONMENT IS LITERALLY REAL

TIME

AND SO I APPRECIATE THE

CHALLENGES ON THE ADMINISTRATION

AND, MEANWHILE, WE HAVE TO

SIMULTANEOUSLY SEEK AND STRIVE

FOR AMERICAN TECHNOLOGIES TO BE

THE SAFEST CHOICE, TO BE THE

BEST CHOICE, AND WE WANT THE

REST OF THE WORLD'S INDUSTRIES

TO BE BUILT ON TOP OF OUR

INDUSTRY

STABILITY MATTERS AND, OF

COURSE, WE HAVE TO CONTINUE TO

BE THE BEST, WHICH AMERICAN

COMPANIES KNOW HOW TO DO TO THE

EXTENT WE HAVE STABILITY

I THINK IT WILL BE GREAT

>> Reporter: WHAT ABOUT ON

TAXES?

THERE'S VERY DIFFERENT STANCES

ON EITHER RAISING THE CORPORATE

TAX RATE TO 28% OR CUTTING TO AS

LOW AS 15% ON THE OTHER SIDE

ANY PREFERENCES THERE OR ANY

THOUGHTS ON SORT OF HOW THAT

WOULD IMPACT NVIDIA?

>> WELL, WHATEVER THE TAX RATES

ARE, WE'LL SUPPORT IT.

IT'S AS SIMPLE AS THAT

THIS COMPANY WAS BUILT IN

AMERICA.

IT BENEFITED FROM ALL OF THE

INFRASTRUCTURE AND THE SUPPORT

AND THE AMAZING INTELLECTUAL

CAPITAL IN THIS COUNTRY, AND SO

TO THE EXTENT THAT WE CAN PAY

BACK THROUGH TAXES, WE'RE

DELIGHTED TO DO IT

>> Reporter: SO NO ENDORSEMENTS

AT THIS TIME

>> WE'RE FOCUSED ON BIDDING OUR

COMPANY, BUILDING OUR TECHNOLOGY

AND SUPPORTING WHATEVER

ADMINISTRATION IS HERE

>> Reporter: ANYTHING YOU CAN

TELL US ABOUT WHAT'S NEXT FOR

NVIDIA

>> WELL, WE'RE IN THE PROCESS OF

GOING INTO OUR -- STARTING THE

PRODUCTION OF BLACKWELL.

EVERY GENERATION WE TRY TO

INCREASE THE PERFORMANCE

TREMENDOUSLY

WHEN WE INTRODUCE NEW

GENERATIONS AND THE PERFORMANCE

IS THREE, FOUR TIMES HIGHER,

WE'RE ESSENTIALLY REDUCING THE

COST OF COMPUTING AND REDUCING

THE COST OF ARTIFICIAL

INTELLIGENCE BY THE SAME FACTOR.

EACH GENERATION REDUCES

CONSUMPTION, INCREASES

PERFORMANCE, REDUCES COST.

SO WE'RE IN A HURRY TO GET TO

BLACKWELL.

WE'RE IN FULL VOLUME PRODUCTION

OF BLACKWELL AND EVERY COMPANY

IN THE WORLD IS CHAMPING AT THE

BIT FOR US TO SHIP IT TO THEM.

>> Reporter: HEY, SCOTT, SO YOU

HEARD IT ALL THERE

A LOT OF DETAILS TO SIFT THROUGH

ON POLICY, THE NEED FOR A

PUBLIC/PRIVATE COOPERATION WHEN

IT COMES TO BUILDING OUT A.I

DIDN'T WANT TO MAKE COMMITMENTS

WHEN IT COMES TO THE 2024

ELECTION BUT WOULD SUPPORT

WHATEVER CORPORA