Nvidia AI Conference: GTC 2024

Nvidia CEO Jensen Huang downplayed his comments earlier Tuesday about Blackwell GPU pricing, during a Q&A session with reporters at the GTC conference in San Jose.

Earlier, Huang had told CNBC that the new chips would cost between $30,000 and $40,000 apiece. In response to a question seeking clarification of his previous comment, Huang noted that the company doesn't actually sell chips, but rather sells complete systems at various price points.

"Nvidia doesn't build chips," he said. "Nvidia builds data centers. This is not buying chips the way people used to sell chips. Nvidia's opportunity is not the the GPU opportunity. A lot of people make GPUs. We're pursuing the data center market, which is about $250 billion a year."

Huang said that Nvidia's market opportunity is between $1 trillion and $2 trillion a year, depending on what time frame you use. (In an earlier session with financial analysts, he made a similar point, but put the total at $1 trillion.)