Mark Zuckerberg Is Sitting on a Huge Stockpile of AI Chips as Companies Compete for Limited Supplies
Nvidia CEO Jensen Huang told investors on Wednesday that the company was doing its best to share the chips evenly amid unprecedented demand.
Key Takeaways
- Nvidia chips remain in high demand, especially from tech companies.
- Its CEO told investors the company was trying its best to allocate them fairly.
- Mark Zuckerberg recently said Meta would own 340,000 Nvidia H100 chips by the end of 2024.
This article originally appeared on .
Nvidia’s CEO recently shed light on the .
The comments have brought boss Mark Zuckerberg’s back into the spotlight.
Jensen Huang told investors on Wednesday that the company was doing its best to share the chips evenly amid unprecedented demand.
“We do the best we can to allocate fairly and to avoid allocating unnecessarily,” Huang with analysts following Nvidia’s fourth-quarter results.
Huang was responding to a question about distributing chips between the companies fighting over a many of which are competitors.
“At the core of it, we want to allocate fairly, avoiding waste, and looking for opportunities to connect partners and end users,” he said.
Meanwhile, Zuckerberg is plowing on with his plan to acquire hundreds of thousands of the chips as part of his ambition to create a “top-level product group”
Last month, Zuckerberg told Meta would have more than 340,000 Nvidia H100 GPUs — the main chips companies use to train and deploy AI models — by the end of 2024.
Taking into account chips of other types, the CEO said he expected Meta to have amassed 600,000 GPUs by the end of the year, the report said.
The surge in global demand for the chips has dramatically boosted Nvidia’s stock over the last 12 months.
The AI chipmaker reported better-than-expected revenues on Wednesday, with revenues of $22.1 billion in the fourth quarter — a 265% year-on-year increase. Nvidia stock surged trading after posting the , Business Insider reported.
Meta did not immediately respond to BI’s request for comment.
Key Takeaways
- Nvidia chips remain in high demand, especially from tech companies.
- Its CEO told investors the company was trying its best to allocate them fairly.
- Mark Zuckerberg recently said Meta would own 340,000 Nvidia H100 chips by the end of 2024.
This article originally appeared on .
Nvidia’s CEO recently shed light on the .
The comments have brought boss Mark Zuckerberg’s back into the spotlight.
Jensen Huang told investors on Wednesday that the company was doing its best to share the chips evenly amid unprecedented demand.