NVDA Stock Gains 2% — Jensen Huang Expects Chip Sales To Double Next Year

• Nvidia expects chip sales to double over the coming year, higher than the 70% jump Huang expected last month.
• Speaking at a UK summit, Huang urged tech firms to run thorough safety tests before releasing AI tools. 
• Nvidia’s revenue hit $96.2 billion in the quarter ending July, beating analyst expectations of $92.2 billion. 

Artificial intelligence giant Nvidia Corp. (NVDA) expects to double its chip sales over the next year, propelled by the rapid integration of AI technology across diverse global industries.

Speaking with journalists on Thursday at an event hosted by King Charles III in Scotland, Nvidia’s Chief Executive Officer Jensen Huang highlighted AI's broad potential to boost productivity across sectors. 

NVDA stock rose about 2% on Thursday and is on track for record gains in its third straight session. 

Nvidia stands at the center of the global chip boom, controlling about 80% of the AI accelerator market. However, its moat is being challenged as hyperscalers like Meta (META), Microsoft (MSFT), Amazon (AMZN), Google (GOOG, GOOGL), and OpenAI boost spending to develop custom silicon and reduce reliance on Nvidia.

AI Safety Concerns

Huang’s optimistic commercial forecast comes despite mounting debate within the tech sector regarding AI governance and risk. 

With several prominent industry leaders advocating a measured development pace to mitigate potential threats, Huang emphasized that technology creators must proactively ensure product security while dismissing the need to slow AI development. 

Companies bear ultimate responsibility for verifying that their AI software and deployment systems are fully safe before public release, he noted.

The projected surge in chip volume builds on Nvidia's aggressive financial trajectory. Last month, the company forecasted a 70% revenue increase for the upcoming fiscal year, noting that sales could potentially double if manufacturing capacity keeps pace with soaring customer demand.

NVDA Stock: Retail View 

Retail sentiment on Stocktwits was ‘bearish’ with ‘low’ message volumes. Retail chatter on the stock has risen about 15% compared with the previous week.

NVDA stock has gained about 17% year-to-date. 

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