By Zoë Schiffer
Publication Date: 2025-11-25 21:24:00
Zoë Schiffer: Yeah, I think that one thing that everyone can agree on is that Nvidia is undoubtedly one of the companies that has gone all in during this AI acceleration moment. For better or worse, about 90 percent of Nvidia’s sales, which were once dominated by chips for personal gaming computers now come from its data center business, and it feels like every time one of these partnerships between OpenAI and another company, Nvidia’s in there somewhere, it just feels like it’s attached to everyone else in this industry at this point.
Max Zeff: Yeah, it’s done a great job of infusing itself with every AI company, but also, I mean, that’s been a major concern. There’s been a lot of talk of these circular deals where Nvidia really depends on a lot of these startups that it’s also funding. It’s a customer, it’s an investor. Nvidia is so wrapped up in this. So I guess in that way, it’s not that surprising that Jensen is defending the AI bubble constantly now.
Zoë Schiffer: Yeah. It’s also worth saying that one of the fears that people who have the fear of the AI bubble will talk about is the fact that the GPUs are the majority of the cost of building out a data center and they need to be replaced, what, every three years Nvidia releases new chips and they’re cutting edge and companies need to buy them in order to compete. I think the fear is that that renewal cycle isn’t quite factored into the pricing, but as long as people continue to buy chips, what Jensen is saying is,…
