Nvidia CEO Jensen Huang: We are at the beginning of a new industrial revolution

is outside the White House and actually caught up today with Jensen Wong just moments ago Megan hey Scott that's exactly right so we've been here just outside the White House all morning because there was a meeting this morning between the Biden Administration and top Tech leaders on AI we saw Sam Alman of open AI we expected Ruth porat of Google Dario amade of anthropic Brad Smith of Microsoft were all here and then we we caught up with Jensen hang of Nvidia as you mentioned we got to talk with him for a few minutes about the

2024 election about that meeting about Ai and his thoughts on all of it we have the tape here for you let's listen in can you tell us about the meeting today well we're talking about uh energy uh about this new industry called AI factories and artificial intelligence and obviously uh we're at the beginning of a new Industrial Revolution and uh this industry is going to be producing intelligence and what it takes is is uh energy and of course a lot of great computer science and and uh uh large Computing systems that Nvidia makes and so

so we've got we've got to make sure that that uh everybody understands the needs coming the opportunities of it the challenges of it and um and do it in the uh the most efficient and uh scalable way we can absolutely do you see the need for a federal role here in terms of federal investment in combination with private investment well there's probably going to have to be uh Public public private collaboration in this area because because the uh the rate of uh growth is really quite High um Al although although artificial intelligence uh consumes a

lot of energy to train it also saves a lot of energy when you consume it uh because ultimately it's not about training the model it's about using the model and uh whether it's in health care or uh climate uh climate technology or uh just running the power grid artificial intelligence has the opportunity to really save a ton of ton of energy and so so I think people are are grappling with uh the the scale of of the opportunity ahead and of of course the scale of the challenges ahead and so it's going to require public

and private collaboration collaboration do you think the US is doing enough at this point to be competitive with China and other countries well this this Administration is determined to uh do the most and do do what the vastest and that's really that speaks volumes about about uh the reason why we had this meeting today and so it's really great is there enough money behind it at this point well you know if this country doesn't have the money I don't see anybody else in the world that that can possibly take advantage of this incredible new industry

and so uh you know I think people are starting to to realize that AI is not not just a new computer science it's a new way of doing software it's going to of course revolutionize the computer industry but it's going to create a whole new industry that sits on top of it uh that produces um uh intelligent skills and and produces knowledge and this industry is going to be quite large it's going to be the you know hopefully the most exciting of the new industries that the world's ever seen can I ask you a quick

question about export controls is there any policy US policy that you would like to see change in order to make sure that you're able to make sales overseas well export control and National Security uh industrial resilience um uh supply chain resilience all of those all of those matters are really complicated and and uh this Administration understands the Nuance of it and so uh we would like to see uh of course the US Industries be as vibrant as possible to export uh American Standards all over the world and to have the rest of the world be

built on on American Standards um uh of course National Security uh incredibly important and we have to safeguard all of that at the same time and so so the uh uh this is why policy makers have such a such a difficult job they have to balance all of these uh various requirements and make sure that that we have a great policy that that somehow balances and uh keeps all of this uh up in the air and thriving and so I think the the uh uh and the most important thing for us is just you know

make sure that we inform uh the administration on uh what we know about about the technology and the industries that that we're cultivating uh and and 100% make sure we comply with the policies can I ask you one more question on tariffs with this election there's a lot of talk about potentially across theboard tariffs of 10 to 20% and up to 60% on China do you have concerns about how that would impact nvidia's business or concerns about the policy in general well I'm not very very informed in most of that stuff I think the um

our company of course uh serves serves Industries globally and uh we're one of the few companies in the world that serve every single AI company in the world and uh uh we're in healthcare and Logistics and transportation and Retail and etail I mean the the number of industries that we serve is really quite large and so uh you know obviously all of these matters are are complicated and and requires uh Nuance thinking from from uh the administration so I I trust that they're going to make great decisions yeah absolutely the number one thing we tend

to hear from Business Leaders is on stability especially when it comes to this election do you have thoughts on on supporting one candidate over the especially when it comes to keeping a calm stable business environment uh well you know one of the things that that's really important is uh and this affects us in expert control is just to have a a stable policy um of course policies have to be has to adapt to the to uh the changing uh environment and and uh in in our world the changing environment is is literally real time and

and so uh I I um appreciate the challenges that has on on the administration and and um meanwhile we have to simultaneously seek and um uh strive for uh American Technologies to be the safest choice to be the best choice and uh we want the rest of the world's uh Industries to be built on top of our of our of our industry and so uh stability matters uh um and of course we have to continue to be the best which which uh American companies know how to do uh to the extent that we have stability

I think it's going to be great what about on taxes there's obviously very different stances between these two candidates on either raising the corporate tax rate to 28% or cutting it uh to as low as 15% on the other side any preferences there um or any thoughts on sort of how that would impact Nvidia well you know hey whatever the tax rates are we'll support it you know it's as simple as that I think the uh this comp this company was built in America it benefited from all of the infrastructure and and uh uh and

uh the support and the amazing intellectual Capital that's in in this country uh and so uh to the extent that we can pay back through taxes we're delighted to do it absolutely so no endorsements at this time we're we're uh we're focused on building our company building our our technology and um supporting whatever Administration is here absolutely anything you can tell us about what's next for NVIDIA well uh you know we're we're in the process of uh going into our uh starting the production of our new generation called Blackwell uh every single generation we try

to increase the performance tremendously and when we int introduce new generations uh and the performance is is uh three four times higher we're essentially reduce reducing the cost of computing and reducing cost of artificial intelligence by the same factor and so uh each generation reduces energy consumption uh increases performance reduces cost and so we're we're in a hurry to get to Black well we're in we're full volume production of blackw and and uh uh every company in the world is is uh chomping at the bit you know for us to ship it to him hey

Scott so you heard it all there a lot of details to sift through on policy he spoke about the need for a public private cooperation when it comes to building out AI didn't want to make commitments when it comes to the 20124 election but said they would support whatever corporate tax policy was out there he spoke about the need uh for stability especially when it comes to export controls wanting to see stability with whatever Administration comes next I'll let you guys sip through it but a lot lot there from Jensen hang