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Nvidia CEO Jensen Huang says he sees no 2029 memory glut
Nvidia CEO Jensen Huang told CNBC he does not expect a memory oversupply by 2029, after a weeklong selloff in memory stocks.
- Our desk filed its story
- New headline Was: “Nvidia CEO Jensen Huang says he sees no 2029 memory glut”
- New headline Was: “Nvidia's Jensen Huang says he sees no sign of a 2029 memory glut: 'You can always use more'”
- Our desk filed its story
Nvidia CEO Jensen Huang said Thursday he does not expect a surplus of memory chips by 2029, speaking to CNBC at the company's GTC Berlin conference after a week of selling in memory stocks1.
Huang said memory is useful because systems can keep absorbing more of it, and that high-bandwidth memory, or HBM, will remain in use for years1. He also said Nvidia was the first company to put LPDDR, a type of memory used in phones, into data centers, which he said made systems twice as energy efficient as alternatives, and that the company will keep using large amounts of it1.
CNBC reported that memory shares fell over the past week after an Oct. 15 opinion column in a South Korean publication urged the government to prepare for a slower AI boom1. The column, as translated by CNBC, cited two experts who said they expect a flood of new supply that could turn the market into a "red ocean" in 2029 and that a supercycle could end by then1.
Memory is a core part of Nvidia's chips, and extra supply could lower prices and squeeze margins at makers such as SK Hynix, Samsung and Micron1. SpaceX and Tesla CEO Elon Musk had said China will make a lot of RAM in 2028, CNBC reported1. The selloff was also tied to China's ChangXin Memory Technologies, or CXMT, announcing a design that could improve efficiency and raise concern it could take share from those rivals1.
Asked whether Nvidia would partner with CXMT, Huang said the company is open-minded and that it already works with Chinese firms in the supply chain1. He said China is strong in infrastructure technology and manufacturing and that those capabilities have to be taken seriously1.
Huang also said U.S. export rules sped China's work on semiconductors and manufacturing, CNBC reported1. The United States restricts shipments of its most advanced chips to China, including top Nvidia parts, while some Chinese firms have used overseas data centers to get compute, according to CNBC1. Huang said U.S. technology companies are ready to compete1.
