Nvidia's Jensen Huang Sees No Memory Glut by 2029: 'You Can Always Use More'

Nvidia CEO Jensen Huang said Thursday that a memory supply surplus is unlikely by 2029, pushing back on concerns that have rattled memory stocks in recent days.

"One of the things that's really great about memory is that you can always use more of it," Huang told CNBC's Arjun Kharpal in an interview at the company's GTC Berlin conference. He said HBM, a type of RAM, will be used for years to come.

The selloff followed an opinion column in a prominent South Korean publication on Oct. 15 urging the government to prepare for a slowdown in the AI boom. The column cited two experts predicting a "flood of new supply" that would turn the memory market "into a red ocean" by 2029, with the supercycle possibly ending in a downturn. Memory stocks from makers such as SK Hynix, Samsung and Micron took a hit, since memory is a core component of Nvidia's chips and a supply glut could push prices and margins lower. Elon Musk weighed in at the time, saying China "will be making a LOT of RAM in 2028."

Investor worries were compounded by China's ChangXin Memory Technologies, which announced a new design architecture that could bring greater efficiencies and take market share from rivals. Asked whether he would partner with CXMT, Huang said: "We're open-minded. We work with Chinese companies; just about the whole world works with Chinese companies in the supply chain somewhere." He added that China is "incredible at the fundamental infrastructure technology" and that no country is better at manufacturing collectively.

Huang also said U.S. regulations have sped up China's semiconductor progress. "We've definitely accelerated China's initiatives, its nationalization of semiconductor manufacturing capabilities," he said, while emphasizing that American tech firms are "mighty" and ready to compete with anybody.

Source: CNBC