Jensen Huang says "AI is now doing productive and useful work" as Nvidia posts record revenue

Nvidia chief executive Jensen Huang used the company's latest earnings call to argue that artificial intelligence has become a practical, revenue-producing business rather than a research curiosity. The chipmaker had just posted record quarterly revenue of $96.2 billion, more than twice the year-earlier figure, and Huang told analysts the industry is beyond the speculative phase, that AI-generated output now earns money, and that artificial general intelligence test scores are not a meaningful goal. The comments came as Business Insider reported talks for Nvidia to buy AI-model platform Hugging Face for about $13 billion, while The Information reported the purchase was finalized at $12.9 billion. Such a deal could strengthen Nvidia's position in open-source AI, which executives believe can counter closed-source rivals like OpenAI and Anthropic as they develop their own chips and reduce dependence on Nvidia.