Jensen Huang

Until all of this stuff, what classically was hyperscale, now transitions to AI.

Everything from shopping to e-commerce, all that stuff, until everything goes over.

Actually, it's the other way, because we're at the end of the supply chain, right?

And so we respond to demand.

Okay.

And right now, all the VCs will tell you, you guys know, the demand, there's a shortage of compute in the world.

Not because there's a shortage of GPUs in the world.

If they give me an order, I'll build it.

Over the last couple of years, we've really plumbed the supply chain.

So all of the supply chain behind me, from wafer starts to co-ops to HBM memories, all of that technology, we've really geared up.

If we need to double, we'll double.

So the supply chain is ready.

Now we're just waiting for demand signals.

And when the CSPs and the hyperscalers and our customers do their annual plan and they give us their forecast, we respond to that and we build to that.

Now what's going on, of course, is that every one of their forecasts that they provide us turns out to have been wrong because they under-forecasted.

And so now we're always in a scramble mode.

And so we've been in the scramble mode now for a couple of years.

And whatever forecast we've been given has been always—

significant increase from last year, but not enough.

do you see them all it sounds like to me they're all leaning in more now and they're all also because of the second exponential okay we've already had one exponential we were experiencing which was the adoption rate of ai the engagement of ai was growing exponentially yes the second exponential that kicked in was reasoning yeah