Huang Jensen: "The More Memory, the Better"... Dismisses 2029 Oversupply Concerns

"Open Mind" About Using CXMT Products
Points to "Working Capital" as a Concern for Neoclouds

Jensen Huang, CEO of NVIDIA, rejected forecasts that the memory semiconductor market could face oversupply in 2029. He predicted that demand for memory would continue to grow as artificial intelligence (AI) becomes more widespread.

Yonhap News

In an interview with CNBC at NVIDIA's developer conference, GTC, in Berlin, Germany, on Thursday, October 22, Huang said he did not think the market would face a memory supply glut.

"The real advantage of memory is that the more you have, the better," he said, predicting that demand would expand. His remarks indicated that he disagrees with views raised by some in South Korea that the market could face oversupply in 2029 and that the memory supercycle could end.

On high-bandwidth memory (HBM), a key component of AI semiconductors, he said it would be used "for years to come." He also said the company plans to continue using large quantities of low-power memory, including LPDDR.

Huang's remarks could ease concerns about the sustainability of demand for memory manufacturers such as Samsung Electronics and SK hynix. However, whether the market will face long-term oversupply will depend on how quickly manufacturers expand production capacity and on actual demand.

He also left open the possibility of working with Chinese memory manufacturers. Asked whether NVIDIA would be willing to use products from China's ChangXin Memory Technologies (CXMT), Huang replied, "Of course, we are open-minded."

He said China has strong capabilities in foundational infrastructure technologies. While noting that U.S. restrictions on China had, in effect, accelerated China's efforts to develop its own semiconductor manufacturing capabilities, he stressed that U.S. technology companies are strong and ready to compete with anyone.

Huang also maintained an optimistic outlook on AI cloud providers, which have recently drawn growing concern from investors. He said demand for services from so-called "neocloud" companies, including CoreWeave, Nebius and IREN, was growing explosively.

He identified working capital, rather than a lack of demand, as the factor limiting their growth. "Ultimately, what matters is the value these companies provide, so this issue will be resolved," he said.

This content was produced with the assistance of AI translation services.