Nvidia CEO Jensen Huang says chip industry won't see a downturn for a while, needs to expand 5-10x to meet AI infrastructure demand

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Nvidia CEO Jensen Huang stated that the semiconductor industry will not face a downturn for some time and needs to expand five to ten times to meet AI infrastructure demand. In a discussion with AXIOS co-founder Mike Allen, Huang explained that the current AI boom is different from past cycles because it is driven by industrial demand rather than consumer demand. He emphasized that the industry is not cyclical but fundamentally undersized, with everything in short supply due to the need for a new global infrastructure layer for AI. Huang noted that the semiconductor industry must grow significantly to support this transformation, as current capacity is insufficient for building the necessary AI infrastructure.