Keynote speech: Nvidia founder and CEO Jensen Huang on the VivaTech expertise startup and innovation truthful, Dôme de Paris, Paris, 11 June 2025
Mustafa Yalcin · Anadolu · Getty
In February this 12 months President Emmanuel Macron unveiled a brand new stage in France’s nationwide AI technique – a €109bn non-public funding plan mixing UAE sovereign wealth, Canadian pension cash, American non-public fairness and French family names (Iliad, Orange, Thales). These final all run on Blackwell GPUs from US large Nvidia, maker of probably the most extensively used semiconductors within the AI sector and one of many world’s largest firms by market capitalisation.
In September the UK introduced a £150bn ‘tech prosperity deal’. Germany shouldn’t be far behind. The identical situation has performed out from the Middle East to Southeast Asia: Nvidia guarantees that will help you break your habit to US expertise by shopping for US-made chips on phrases set by a US agency. ‘Sovereignty’ means the privilege of writing cheques to the US in its personal forex.
Nvidia places plenty of effort into sustaining the collective frenzy. Jensen Huang, Nvidia’s leather-jacketed CEO, repeats the mantra at summit after summit – ‘Own the manufacturing of your intelligence’ – and finance ministers nod alongside. The implied path to salvation is: purchase our chips to flee the tyranny of OpenAI and its flagship chatbot, ChatGPT.
What Huang doesn’t point out is that Nvidia plans to speculate $100bn within the very monster his sovereignty doctrine guarantees to defeat. And for each $10bn Nvidia invests in OpenAI, it makes $35bn again in chip gross sales – a mechanism that capabilities so easily it nearly achieves perpetual movement. Better nonetheless, Nvidia doesn’t even promote the chips – it leases them.
This pales in comparison with the trillion-dollar computing infrastructure offers OpenAI signed this 12 months, together with agreements that can doubtlessly give it as a lot energy as 20 nuclear reactors. Much of this large spending will circulation again to the likes of Nvidia and AMD, through which OpenAI has simply taken a significant stake. Such incestuous offers, usually an indication of a bubble within the making, usually are not simply tolerated however even inspired by the unending search (…)
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