NVIDIA Corp. (NASDAQ:NVDA) is positioning its expanding AI platform, broad customer base and infrastructure partnerships to capture the next phase of global AI spending.
The Big Tech giant expects accelerating AI infrastructure spending, broader customer adoption and new applications to drive growth. Meanwhile, CEO Jensen Huang sees power and data-center availability as key constraints on expansion.
NVIDIA CEO Calls It A ‘Growth Value Stock’
At the Goldman Sachs Communacopia + Technology Conference on Thursday, Huang reiterated his forecast that AI infrastructure spending could reach $3 trillion to $4 trillion by 2030.
Huang said NVIDIA could grow revenue 70% year over year and remains confident in that outlook. The Goldman Sachs moderator also cited NVIDIA’s earlier guidance that unconstrained demand was growing more than 100%.
Huang said Grace Blackwell NVLink 72-rack systems recorded 27% month-over-month growth. NVIDIA generated $303 billion in revenue over the last 12 months, with gross margins near 75%.
System pricing has also climbed across generations. Huang put Hopper at about $18,000 per GPU system, Blackwell at about $25,000 and Vera Rubin at roughly $40,000.
During the conference, he called NVIDIA the “world’s first and only growth value stock,” arguing that the company combines rapid growth with expanding exposure to AI infrastructure spending.
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Broad Customer Base Supports Growth
Huang said NVIDIA’s platform runs models from major developers, including OpenAI, Alphabet Inc. (NASDAQ:GOOGL) unit Google’s Gemini, Meta Platforms Inc. (NASDAQ:META), Anthropic and xAI. Enterprises, cloud providers and regional AI operators further broaden its customer base.
OEM partners include Dell Technologies Inc. (NYSE:DELL), Super Micro Computer Inc. (NASDAQ:SMCI), Lenovo, HP Inc. (NYSE:HPQ) and Cisco Systems Inc. (NASDAQ:CSCO). Neocloud partners include CoreWeave Inc. (NASDAQ:CRWV), Nebius Group N.V. (NASDAQ:NBIS), Lambda and Firmus. Huang said this broad reach reduces NVIDIA’s dependence on any single customer or sales channel.
Partnerships Open New AI Markets
Huang identified cybersecurity and physical AI as major future opportunities.
NVIDIA has a major partnership with CrowdStrike Holdings Inc. (NASDAQ:CRWD) around AI-powered cybersecurity. Huang also discussed partnerships involving Cisco and Palantir Technologies Inc. (NASDAQ:PLTR).
Huang cited NVIDIA’s partnerships with Mercedes and Uber Technologies Inc. (NYSE:UBER) in autonomous vehicles, as well as its work with Amazon.com Inc. (NASDAQ:AMZN) on warehouse and logistics systems.
The company is also working with Nokia Corp. (NYSE:NOK) on AI-RAN and 6G technology. Huang described 6G as a form of physical AI and said AI-RAN effectively creates a distributed edge data center.
Power And Data Centers Remain Constraints
Huang said NVIDIA continues to face upstream supply challenges, including packaging, memory, connectors, voltage regulators and wafers. However, the company’s scale and supplier relationships help it manage those pressures.
Land, electricity and ready-to-use data-center capacity remain major downstream bottlenecks. NVIDIA tracks land, power and data-center shell availability globally through its network of cloud providers, neoclouds, OEMs and AI companies.
Huang pointed to Australia as an example. He said NVIDIA is working with companies and data-center operators in the region on plans involving 2 gigawatts of capacity for 2027, which he valued at about $80 billion.
NVIDIA Price Action
NVDA Price Action: NVIDIA shares were up 0.81% at $220.12 at the time of publication on Friday, according to Benzinga Pro data.
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