Nvidia CEO Jensen Huang sees no sign of a memory glut by 2029

Nvidia CEO Jensen Huang has a message for anyone waiting on a memory chip oversupply: don’t hold your breath. In a CNBC interview on October 22, 2026, Huang said he sees no sign of a memory glut by 2029. He also said demand for memory will keep climbing. What Huang actually said Huang’s comments centered on two types of memory: high-bandwidth memory, known as HBM, and LPDDR. He stressed that both are becoming more important as AI workloads grow. Huang tied the rising reliance on these technologies to the surge in AI development. His view pushes back on speculation that the market could swing from shortage to oversupply within a few years. The numbers behind the confidence In its second quarter of fiscal 2027, Nvidia reported total revenue of $96.2 billion. That was a 106% increase from a year earlier. Data center revenue, the segment most tied to AI, reached $89 billion. That figure was up 117% year over year. Nvidia’s purchase commitments hit $279 billion in Q2 fiscal 2027, more than double the prior quarter. A considerable portion of that went toward memory supplies. Nvidia has been securing long-term agreements with memory suppliers to work around the bottleneck. Chief Financial...