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Nvidia CEO Jensen Huang defends Blackwell design problems in post-earnings interview, promising ‘billions’ in Q4 revenue

August 29, 2024
in AI
Nvidia CEO Jensen Huang defends Blackwell design problems in post-earnings interview, promising 'billions' in Q4 revenue
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  • Nvidia CEO Jensen Huang defended production problems in a post-earnings call interview with Bloomberg TV.
  • The tech company beat revenue estimates but acknowledged production issues with its Blackwell chip.
  • Huang told Bloomberg demand for Blackwell is high and will net “billions” in revenue by Q4.

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Nvidia CEO Jensen Huang remains optimistic about the revenue prospects for its forthcoming Blackwell chip despite a snag in the product’s rollout.

The technology company officially logged another successful quarter with its Wednesday earnings report, beating revenue estimates, earnings-per-share, and third-quarter guidance.

Regardless of Nvidia’s wins, the Wednesday earnings report and subsequent call left some analysts wanting more, especially with regard to the company’s Blackwell chip design, which ran into production problems in recent months.

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The company acknowledged this week that the Blackwell issues required a rework and were partially responsible for a dip in Nvidia’s gross margin.

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Soon after the initial call, Citi predicted Nvidia’s earnings would fall short of the $2 billion estimate beat it has secured in the last four quarters due to the potential Blackwell delay, Business Insider previously reported.

But in a post-earnings interview with Bloomberg TV, Huang defended Blackwell’s rollout, saying the company made a “mass change to improve the yield” and insisting the platform’s functionality is “wonderful.”

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“We’re sampling Blackwell all over the world today,” Huang told the outlet. “I’m giving tours to people of the Blackwell systems we have up and running.”

The CEO reiterated that Nvidia has started volume production on Blackwell and said production will start shipping in the company’s fiscal fourth quarter, leading to “billions of dollars” of Blackwell revenues and further ramping from there.

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Interest in the next-generation chip remains high, but standing up Blackwell capacity is still weeks or months away.

As a result, Huang said on the earnings call that demand for Hopper, the company’s current graphics processing unit, remains “really strong.”

Analysts’ disappointment in the lack of Blackwell specifics led to an after-hour stock decline.

Huang, however, told Bloomberg that AI spending is still on the up and up.

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“We’re gonna have a great next year, as well,” he said.


Tags: advertisementBillionblackwellblackwell chipbloomberg demandbusiness insiderhuangnvidianvidia ceo jensen huangpost-earnings interviewproduction problemq4 revenuerevenue estimatestorytech company
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