Nvidia’s Jensen Huang Says There’s No AI Bubble Because AI Is ‘Incredibly Profitable’ and ‘He’s Happy to Pay Hundreds of Millions of Dollars’ for AI

The most-repeated objection to the AI buildout is that nobody can show the money coming back. It's something billionaire Mark Cuban explicitly said on the Bihe Big Tech Podcast, that "they'll never get it," with 'it' referring to the trillions of dollars spent on the AI buildout. He further classified it as "they're just sh*tting away that money." The billionaire has exclaimed repeatedly about the trillions being spent on the AI buildout.

Possibly the largest benefactor in the world of this trend, however, has a completely polar take on the subject. Nvidia (NVDA) CEO Jensen Huang was asked a version of this by Axios ' Mike Allen: "When does the party stop? When does your finance team start to worry?" Instead of answering with a forecast, he answered with an invoice.

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"These coding agents are incredibly profitable," Huang said. "They're doing useful work for very high-paying jobs. And so many companies like ourselves are happy to pay hundreds of millions of dollars a year so that we can go use these AI services to help us augment our coding capability."

Read that construction carefully, because it is doing two things at once. Huang is describing a class of buyers—"many companies like ourselves"—and he is placing Nvidia inside it. He is not disclosing an Nvidia line item, and Nvidia does not break out AI-tooling spend in its filings. What he is doing is putting a public number on the order of magnitude that a large technology company now pays to rent coding intelligence: not millions, not billions, but hundreds of millions annually.