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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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Osun Accord accuses MC Oluomo, APC of park takeover plot

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The ruling Accord in Osun State has accused the factional National President of the National Union of Road Transport Workers, NURTW, Musiliu Akinsanya, popularly known as MC Oluomo, and some members of the All Progressives Congress, APC, of plotting to violently take over motor parks across the state.

The party alleged that the purported takeover plan was aimed at fomenting a statewide breakdown of law and order and creating renewed tension within the transport sector.

The allegation was contained in a statement signed by the state chairman of the Accord, Pastor Victor Akande, on Sunday.

Akande said credible reports gathered from various motor parks across the state specifically identified MC Oluomo as the alleged mastermind of the plot, using his purported surrogate, Kazeem Oyewale, popularly known as Asiri Eniba.

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The Accord chairman alleged that MC Oluomo had illegally issued a new certificate of leadership to Oyewale despite the tenure of the incumbent NURTW executive not having elapsed.

“The development was allegedly intended to encourage Asiri Eniba to embark on violent activities across motor parks and frustrate the state government’s plans to establish a Park Management System,” the statement said.

The party called on the Presidency and the Inspector-General of Police to rein in MC Oluomo, warning that he would be held accountable for any breakdown of law and order arising from the alleged activities.

The Accord Party also expressed support for Governor Ademola Adeleke’s decision to suspend NURTW operations across the state’s motor parks and the planned establishment of a state Park Management System.

It said the government’s action was aimed at preventing factional clashes following the killing of Mr Olalekan Oyeyemi, while stressing the need to prevent further violence within the transport sector.

“The threat of factional warfare is still very on ground, hence the strong support of all and sundry for the creation of a park management system which the state governor will announce in due course’

“We therefore strongly frown at the illegal and violent activities of Mr Asiri Eniba, supported by Mr MC Oluomo, as a remnant of pre-election violence in Osun State, which should stop without further delay,” Akande said.

The party commended the Commissioner of Police for his intervention in maintaining peace and urged security agencies to enforce the governor’s directive for all NURTW factions to vacate the motor parks, while securing the facilities against alleged factional takeovers and preventing another round of NURTW-related violence.

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Troops Arrest 47 Suspects, Rescue Kidnapped Victims Nationwide

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By Sumaila Ogbaje

Nigerian Army troops arrested 47 suspected criminals, rescued several kidnapped victims and neutralised a suspected terrorist in nationwide operations in the last 24 hours.

The troops also recovered suspected stolen and rustled livestock, detonated an improvised explosive device (IED) and disrupted criminal activities across Zamfara, Katsina, Sokoto, Nasarawa, Plateau, Anambra, Imo and Kaduna States.

An operational report made available to the News Agency of Nigeria (NAN) on Saturday, said troops of Operation MESA arrested the 47 suspects during a raid in Nasarawa State.

The report said the troops of 177 Guards Battalion, in conjunction with the Department of State Services (DSS), Police and Civilian Joint Task Force, raided suspected criminal hideouts at Tipper Garage and Gidan Drama in Karu Local Government Area of the state.

It said the troops recovered two motorcycles, an unspecified quantity of suspected cannabis, 32 mobile phones, a laptop and charger, four wristwatches, five power banks and an ATM card.

According to the report, the suspects and recovered items were handed over to the Police Division in Karu for further investigation.

In Zamfara, the report said the troops of Operation Fansan Yamma rescued three civilians who sustained gunshot wounds after engaging terrorists along the Dampo-Rumba Road in Bakura Local Government Area.

It added that the victims were evacuated to the General Hospital, Bakura, for medical attention.

According to the report, troops responding to a kidnapping incident along the Dandume-Damari Road in Katsina also engaged the terrorists, forcing them to abandon their victims and flee.

“The troops recovered one vehicle during the operation.

“Similarly, troops responding to terrorist activities along the Isa-Girnashe Road in Sokoto rescued two kidnapped victims after engaging the terrorists.

“One of the victims, however, was confirmed dead from gunshot wounds.

“The troops also intercepted five trucks conveying 117 cows, two donkeys, one goat and five cow skins suspected to have been stolen at Magami in Gusau Local Government Area of Zamfara.

“The recovered livestock were handed over to the Chairman, Committee on Recovery of Rustled Cattle, Gusau, for further action.

“In another operation in Tsafe, Zamfara, troops intercepted a suspected stolen vehicle with the support of the National Security Adviser’s tracking team.

“The driver reportedly abandoned the vehicle and fled after being intercepted, while the vehicle was recovered to the unit headquarters for further action,” it said.

In Niger, the report revealed that troops of Operation Savannah Shield discovered and safely detonated an IED along the Dekara-Gewazi Road in Borgu Local Government Area.

It added that troops of Operation Enduring Peace neutralised a suspected terrorist during an offensive operation at Ungwan Nungu in Sanga Local Government Area of Kaduna.

The report further revealed that troops engaged the suspects, killing one while others fled the scene.

“At Yangwari Market in Mangu Local Government Area, troops intervened after unidentified gunmen opened fire on a vehicle conveying passengers and foodstuffs.

“Eight passengers who sustained gunshot wounds were evacuated to Allah-na-Kowa Hospital, where three were confirmed dead while others received treatment,” it added.

In the South-East, the report said the troops of Operation UDO KA arrested suspected members of the Indigenous People of Biafra/Eastern Security Network (IPOB/ESN) during offensive operations along the Azia-Uli-Okija axis.

It added that three suspects were apprehended while attempting to escape through Orsu-Ihiteukwa in Imo, but one was neutralised while trying to evade arrest.

According to the report, the remaining suspects were handed over to the DSS for further action.

“Troops also arrested two suspected IPOB/ESN members at Azia, Ihiala Local Government Area of Anambra, following intelligence linking them with the group’s activities.

“The suspects reportedly confessed to delivering items to terrorists on two occasions and remained in military custody for further action.

“In Imo, troops conducting anti-illegal bunkering operations discovered an illegal refining site containing about 720 litres of illegally refined crude oil and 41 cooking drums at Egbema.

“All recovered items were handled in line with extant regulations,” it said. (NAN)

Edited by Isaac Aregbesola

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