NVIDIA CEO Jensen Huang: AI market could be worth $2 trillion in the next 5 years

NVIDIA CEO Jensen Huang made some big statements at the recent World Government Summit recently held in Dubai, where he said AI is the future of economics and that there'll be $2 trillion worth of data centers powering the future of AI.

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Huang added: "We are in the beginning of this new era and what's gonna happen is there's a trillion dollars worth of installed base in data centers around the world and over the course of next 4-5 years, we'll have 2 trillion dollars worth of data centers that will be powering software around the world and all of that is going to be accelerated and this architecture for accelerating computing is ideal for this next generation of software called generative AI".

It's not surprising that Jensen believes the data center market will explode into a gigantic $2 trillion market in the next 4-5 years, which will be the driving force behind the future of everything AI. NVIDIA is leading the pack here, where they're not only commanding an estimated 90% of the AI GPU market, but the company has seen its market capitalization explode over the last few months... adding $650 billion to see NVIDIA with a commanding $1.78 trillion market cap at the time of writing.

• Read more: NVIDIA CEO Jensen Huang: data is the new gold, all countries should develop 'Sovereign AI'

Jensen added that for NVIDIA as a business, the NVIDIA CEO believes that "general purpose computing" isn't the way to lead the case, and that the company wants fast, efficient, and cost-effective AI. He used the fact that accelerated computing, like the one we've seen in modern times, has prompted the growth -- or even the start -- of AI into markets. The only way that we'll see the industries of the world move into a "next-generation" state is by upscaling accelerated computing... which needs a LOT of money behind it, and efficient hardware thrown into the mix.

NVIDIA CEO Jensen Huang said: "The rest of it is really up to you to take initiative, activate your industry, build the infrastructure, as fast as you can. There are some interests to scare people about this new technology, to mystify this technology, to encourage other people to not do anything about that technology and rely on them to do it. And I think that's a mistake".