Jensen Huang on Google, Meta, Anthropic and other companies making AI chips that analysts say should scare Nvidia: What everyone is not understanding is…

Nvidia CEO Jensen Huang has a simple answer for everyone treating Google’s TPU push, Meta’s homegrown MTIA chips, Anthropic’s multi-gigawatt compute deal, Amazon’s near-sold-out Trainium4, and OpenAI’s Broadcom silicon project as a five-alarm fire for the world’s most valuable chipmaker: you’re all misreading the situation. One by one, the biggest names in AI are quietly building around Nvidia—and Huang spent a significant stretch of a nearly two-hour podcast making the case that none of it is quite what it looks like.

In a wide-ranging conversation on the Dwarkesh Podcast published Tuesday, Huang argued that what looks like customer defection is actually something far more specific.

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