- Nvidia CEO Jensen Huang forecasts chip sales to double by 2027
- Shares rose 2.14% to $218.47 in US pre-market trading on Thursday
- Huang emphasized the importance of responsible AI development and safety
Shares of Nvidia Corp. jumped over 2% in US pre-market trading on Thursday after Chief Executive Officer Jensen Huang projected that the tech giant's chip sales will double next year.
Speaking at an artificial intelligence summit in Scotland alongside King Charles, Huang offered a highly bullish outlook for the AI bellwether. He stated that Nvidia expects to sell twice as many chips in 2027 compared to its current annual volume, underscoring the relentless global demand for the company's advanced hardware.
Following the aggressive sales forecast, Nvidia's stock raced higher to trade at $218.47, up 2.14% or $4.57, ahead of the opening bell on Wall Street.
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Beyond the financial projections, Huang used the global stage to stress the critical importance of responsible AI development. He told attendees that AI safety remains paramount for the industry, issuing a stark warning that unsafe products must be strictly held back from the market.
The bullish forecast provides a much-needed boost for semiconductor investors following a brutal start to the week. Global AI and chip stocks suffered a broad-based crash on Monday after several top leaders in the artificial intelligence industry called for a coordinated slowdown in AI development to address safety issues for humanity.
Despite the recent volatility, Huang's massive growth projection further cements Nvidia's undisputed leadership in the semiconductor space. The company remains the primary beneficiary of the generative AI boom, with major cloud providers, tech giants, and sovereign nations continuing to spend billions on its highly coveted hardware.
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