Nvidia’s Huang sees no memory chip glut through 2029

Nvidia Corp. Chief Executive Officer Jensen Huang said he sees no sign of a memory chip glut through 2029 and expects demand to keep climbing as artificial intelligence workloads grow.

In a CNBC interview on October 22, 2026, Huang pointed to high-bandwidth memory, known as HBM, and LPDDR as increasingly important to AI development. His comments push back on speculation that the memory market could swing from shortage to oversupply within a few years.

The outlook favors memory makers such as SK Hynix and Micron, which could see margins expand if scarcity and elevated prices persist.

Nvidia commits $279 billion as supply limits growth

Nvidia reported revenue of $96.2 billion in the second quarter of fiscal 2027, up 106% from a year earlier. Data center revenue, the segment most tied to AI, rose 117% to $89 billion.

Purchase commitments reached $279 billion in the quarter, more than double the prior period, with a considerable portion going toward memory supplies. The company has been signing long-term agreements with memory suppliers to work around the bottleneck.

Chief Financial Officer Colette Kress has said Nvidia expects memory supply constraints to weigh on growth at least until January 2028, the end of fiscal 2028.

Earlier in 2026, Huang warned of shortages across the semiconductor supply chain, including wafers and packaging, and said AI-driven constraints could affect the market for several years. Nvidia has suggested tightness in the HBM market will persist through at least the end of fiscal 2028.