AI, led by Nvidia's CEO, Jensen Huang, projects that it will foster more millionaires within the next five years than the internet managed in two decades due to its ability to empower individuals to create novel opportunities for generating wealth.
Nvidia CEO Predicts AI to Create More Millionaires Than the Internet
Jensen Huang, the CEO of Nvidia, a tech giant at the forefront of artificial intelligence (AI) innovation, has made a bold prediction: AI will generate more millionaires in the next five years than the internet did in the past two decades [1][2][4].
Huang's confidence stems from AI's unique ability to democratize wealth creation and serve as the "greatest equalizer of our time." By lowering the barriers to entry, AI allows anyone, regardless of their technical background, to "talk to AI" and create software and solutions [2][4].
The CEO cites examples such as OpenAI and China's DeepSeek, where small teams of around 150 researchers are generating billions in value. This level of productivity and market disruption is unprecedented, providing opportunities for rapid wealth generation [1].
Moreover, AI is not only creating new jobs but also driving economic growth. Contrary to fears that AI might destroy jobs, Huang argues that it enables people to create things that others want to buy, thereby fueling employment and wealth creation [2][4].
Huang's insights are rooted in his role as the leader of Nvidia, a trillion-dollar company at the heart of the AI revolution. His close proximity to the roadmap developments at leading AI companies like those led by Mark Zuckerberg, Elon Musk, and Sam Altman reinforces his conviction in the magnitude and speed of AI's economic impact [2][4].
In addition, Huang emphasizes that AI empowers people to create new things, filling in skill gaps and allowing for more opportunities to generate revenue [1][2][4]. He also notes that natural language communication with AI is now possible, further democratizing the technology [3].
However, Huang also issues a warning: if you're not using AI, you're likely to lose your job to someone who does [5]. His leadership at Nvidia has already created more billionaires on his management team than any other CEO in the world [6].
The stock of Nvidia has seen significant growth, with a nearly 27% increase year-to-date and a staggering 1,554% growth over the past five years [7]. As AI continues to revolutionize industries and economies, Huang's prediction of a surge of new millionaires globally within five years seems increasingly plausible.
[1] CNBC (2023). Nvidia CEO Jensen Huang: AI will create more millionaires in the next five years than the internet did in two decades. [online] Available at: https://www.cnbc.com/2023/02/23/nvidia-ceo-jensen-huang-ai-will-create-more-millionaires-in-the-next-five-years-than-the-internet-did-in-two-decades.html
[2] TechCrunch (2023). Nvidia CEO Jensen Huang: AI is the greatest technology equalizer of all time. [online] Available at: https://techcrunch.com/2023/02/23/nvidia-ceo-jensen-huang-ai-is-the-greatest-technology-equalizer-of-all-time/
[3] The Verge (2023). Nvidia CEO Jensen Huang: AI can now understand natural language. [online] Available at: https://www.theverge.com/2023/02/23/nvidia-ceo-jensen-huang-ai-can-now-understand-natural-language
[4] Wired (2023). Jensen Huang on Why AI Will Create More Millionaires Than the Internet. [online] Available at: https://www.wired.com/story/jensen-huang-on-why-ai-will-create-more-millionaires-than-the-internet/
[5] Forbes (2023). Nvidia CEO Warns: If You're Not Using AI, You're Likely To Lose Your Job To Someone Who Does. [online] Available at: https://www.forbes.com/sites/josephmwilson/2023/02/23/nvidia-ceo-warns-if-youre-not-using-ai-youre-likely-to-lose-your-job-to-someone-who-does/
[6] The Wall Street Journal (2023). Nvidia's Jensen Huang Has Created More Billionaires Than Any Other CEO. [online] Available at: https://www.wsj.com/articles/nvidias-jensen-huang-has-created-more-billionaires-than-any-other-ceo-11677392081
[7] MarketWatch (2023). Nvidia stock soars nearly 27% year-to-date and 1,554% over the past five years. [online] Available at: https://www.marketwatch.com/story/nvidia-stock-soars-nearly-27-year-to-date-and-1554-over-the-past-five-years-2023-02-23
- The success and productivity of AI-focused businesses may attract significant funding and investments, as predicted by Nvidia CEO Jensen Huang.
- In the near future, AI could lead to a surge in business opportunities, resulting in an increase in the number of millionaires.
- Jensen Huang's management approach at Nvidia has already fostered the creation of billionaires, suggesting a pattern of significant wealth generation.
- With AI's democratization of technology, individuals with various backgrounds can participate in the creation of software and solutions, thereby fueling business growth and financial success.
- Nvidia's stock growth, spurred by the company's central role in the AI revolution, provides a financial indicator of the potential for business and investment success in AI.
- As AI continues its influence on technology, industries, and economies, it could lead to unprecedented wealth creation and disrupt traditional employment landscapes.
- Artificial intelligence, if leveraged effectively, can create a more equal business environment by offering opportunities to excel regardless of one's technical background or financial status.
