Nvidia CEO Jensen Huang said other than artificial intelligence, robotics represents the chipmaker’s biggest market for potential growth, and that self-driving cars would be the first major commercial application for the technology. “We have many growth opportunities across our company, with AI and robotics the two largest, representing a multitrillion-dollar growth opportunity,” Huang said Wednesday at Nvidia’s annual shareholders meeting, in response to a question from an attendee. A little more than a year ago, Nvidia changed the way it reported its business units to group both its automotive and robotics divisions into the same line item. In May, Nvidia said the business unit had $567 million in quarterly sales, or about 1% of the company’s total revenue. Automotive and robotics was up 72% on an annual basis. Nvidia’s sales have been surging over the past three years due to unyielding demand for the company’s data center graphics processing units, or GPUs, which are used to build and operate sophisticated AI applications such as OpenAI’s ChatGPT. Total sales have soared from about $27 billion in its fiscal 2023 to $130.5 billion last year, and analysts are expecting nearly $200 billion in sales this year, according to LSEG. The stock climbed to a record on Wednesday, lifting Nvidia’s market cap to about $3.75 trillion, putting it just ahead of Microsoft
as the most valuable company in the world.

Full story : Nvidia CEO Jensen Huang said robotics was one of the two largest growth opportunities for the AI chipmaker.