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Jensen Huang says he’s found a ‘brand new’ $200B market for Nvidia

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Nvidia founder and CEO Jensen Huang is, perhaps, one of the greatest corporate hype men of all time when it comes to his company. He may even surpass Salesforce’s Marc Benioff when it comes to relentless optimism in his company’s future and revenues.

Even so, he delivers on the hype, quarter after quarter.

Instead of cautioning you to view the proclamation that he’s found a “brand new $200 billion TAM for Nvidia” with skepticism, I’d argue he’s earned a bit of trust.

Huang positioned this massive new market at the feet of Nvidia’s new CPU product, Vera, which was introduced in March. Speaking on Wednesday’s earnings call — after Nvidia posted another record-breaking quarter with $81.6 billion in revenue and forecast $91 billion for the next — Huang pitched Vera as a potentially transformative product. And one that already has promising sales figures.

But no matter how well Nvidia delivers, Wall Street harbors anxiety over what will knock Nvidia from its perch.

Lately, such fears have centered on the CPU. Nvidia is the king of the GPU, whereas historically the CPU markets were owned by companies like Intel and AMD. (Nvidia has made CPUs previously, of course, but that’s not its core business.)

For example, last month Amazon Web Services crowed about a giant contract it signed with Meta for millions of Amazon’s homegrown AI CPUs. Amazon CEO Andy Jassy has been clear that he thinks AWS can do AI chips, both GPUs and CPUs, at least as well, and possibly better than Nvidia.

But now, with the Vera CPU, which is sold alone and bundled with its Rubin GPU, Huang believes he’s unlocked “a major new growth driver” for his company because Vera is, he believes, “the world’s first CPU, purpose-built for agentic AI,” Huang said on the call.

“Vera opens a brand new $200 billion TAM for Nvidia, a market we have never addressed before, and every major hyperscaler and system maker is partnering with us to deploy it. The world is rebuilding computing for agentic AI and robotic physical AI. Nvidia sits at the center of these transitions,” hype man Huang said.

He explained that while the “thinking” part of an AI model uses GPUs, agents mostly run on CPUs. They use CPUs to do their assigned tasks and will, he predicts, run their own form of CPU-driven PCs.

Vera is for agents because it’s specifically designed to process tokens as fast as possible. This is opposed to classic cloud architecture CPUs designed with “cores,” or the ability to run multiple instances of apps as fast as possible.

That sounds logical, but with the major cloud providers as well as startups pursuing AI chip development, what makes him think that Nvidia will be the go-to source for agentic CPUs?

Because, Huang says, Nvidia has already sold $20 billion worth of standalone Vera CPUs this year and we’re only at the beginning.

“The world has a billion users, human users. My sense is that the world is going to have billions of agents, not today. I mean, we’re going to grow into it, but we’ll have billions of agents, and those billions of agents will all use tools. And those tools are going to be like PCs, just like us humans using using PCs today,” he said.

“We’re going to need a lot more CPUs,” he explained.

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Abia voters lament as INEC officials abandon PVC collection centres

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Eligible voters in Umuahia, Abia State, have expressed anger and disappointment after failing to collect their Permanent Voter Cards (PVCs) on the first day of the nationwide collection exercise.

The voters accused officials of the Independent National Electoral Commission (INEC) of abandoning designated collection centres before the scheduled closing time, despite the importance of obtaining the cards ahead of the 2027 general elections.

According to Vanguard, no INEC officials were present at Ugba Primary School, Umuahia, when its correspondent visited around 2pm on Friday.

A similar situation was observed at School Road Primary School at about 2:42pm, where no electoral officials were seen. Enquiries indicated that the officials who had earlier arrived for the exercise had already left.

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One of the affected voters, Innocent Odoenelam, a resident of World Bank Housing Estate, Umuahia, said he rushed to the centre after hearing a radio announcement that the PVCs were ready for collection, only to discover that officials had closed for the day.

Odoenelam, who arrived at about 2:30pm, described the experience as discouraging, particularly because the official closing time was 3pm.

He urged INEC to ensure that its personnel remain at designated centres throughout the stipulated collection hours, warning that difficulties in registering and collecting PVCs could discourage eligible citizens from participating in elections.

“I feel heavily disappointed because I left a lot of things I should be doing to rush down here to pick up my PVC. I feel discouraged,” he said.

Despite his frustration, Odoenelam vowed to return on Monday, insisting that he remained determined to vote.

Another voter, Francis Egwuibe, said he visited the collection centre as early as 8:30am but left after waiting beyond 9am without seeing any INEC official.

He explained that he returned in the afternoon, hoping to collect his PVC, only to discover that the officials had left.

While speaking to newsmen, Egwuibe questioned why electoral personnel could not remain at the centres throughout the announced collection period, considering the time and transportation costs incurred by voters.

He also called on INEC to properly educate its staff about their responsibilities, alleging that the situation raised concerns about the conduct of the exercise.

Similarly, a female voter, Chioma Njoku, accused the commission of treating prospective voters as though they had no value.

She warned that such experiences could discourage citizens who were willing to participate in the electoral process.

The affected voters called on INEC to improve its arrangements and ensure that eligible citizens could collect their PVCs without unnecessary difficulties.

When contacted, INEC’s spokesperson in Abia State, Victor Abraham, promised to respond after making the necessary enquiries.

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Many politicians Tinubu supported abandoned him in 2023 – APC Chairman Yilwatda 

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The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has said that many politicians whom President Bola Tinubu supported over the years withdrew their backing when he declared his intention to contest the presidency in 2023.

Yilwatda spoke on Friday at the party’s national secretariat in Abuja while welcoming members of opposition parties from Sokoto, Kaduna, Jigawa, Kano and Plateau states who defected to the APC.

He said Tinubu had supported several politicians from the North and South before seeking the presidency, but many of them abandoned him when he needed their support.

“President Bola Ahmed Tinubu has always supported northern politicians because he believes in the unity of Nigeria,” Yilwatda said.

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He cited Tinubu’s support for Atiku Abubakar in 2007, when the latter contested the presidency, and Nuhu Ribadu, who ran under the Action Congress of Nigeria in 2011.

Yilwatda also recalled Tinubu’s support for former President Muhammadu Buhari in 2015 and 2019.

“He has consistently worked to bring politicians together and promote unity across the country,” Yilwatda said.

According to him, Tinubu stood by Buhari even when some northern political leaders withdrew their support.

Yilwatda urged the new APC members to support Tinubu and his administration’s Renewed Hope Agenda, describing their defection as a sign of confidence in the President.

He also defended Tinubu’s performance in the North, listing the Abuja–Kaduna–Kano road, the Kano–Maiduguri road and rail projects among the infrastructure initiatives he said were being pursued by the Federal Government.

The APC chairman criticised opposition politicians for questioning Tinubu’s achievements in the region, insisting that the administration had invested in infrastructure across the country.

He also challenged opposition proposals, including a promised N500-per-litre fuel discount, arguing that the plan would cost about N20 trillion annually.

“How can you promise what you do not have when about 60 per cent of our oil production is tied to joint ventures, where the Federal Government owns only part of the production?” Yilwatda said.

He further accused former Vice-President Atiku Abubakar of selling public assets below their construction costs during the privatisation exercise.

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