Jensen Huang - Nvidia's founder, CEO, and self-appointed hype man - took the stage at the Goldman Sachs Communacopia + Technology conference on Thursday to explain why his company's AI domination and revenues will keep breaking records through the end of next year. Spoiler: because everything is Nvidia now.

For months, people have been wringing their hands over whether Nvidia's party might finally end, what with competition coming from every conceivable direction: hyperscalers like Amazon, Microsoft, and Google building their own chips; AI labs like Anthropic and OpenAI doing the same; newly public rival Cerebras; and startups such as Etched. Huang's response to all this looming competition was, essentially, a shrug and a flex.

"Most people think Nvidia builds a chip. I mean, you need airplanes to ship what we build," Huang said, addressing the persistent perception from the company's early days when it invented the GPU and mostly sold it to gamers. "One GPU now is not $399. It's $8.5 million dollars. That's one GPU, all connected with NVLink, 2 million parts, right? 250,000 kilowatts. That's a GPU, and we ship thousands of them." So, to recap: not a chip, a small municipal power grid.

He added that orders for just one product - a computer system combining 36 Grace CPUs with 72 Blackwell GPUs - are currently seeing 27% month-to-month sales growth. Just one product. Growing 27% every month. Casually.

But Huang didn't stop at current sales. He reiterated Nvidia's revenue outlook for next year - the guidance the company gave last month when it reported yet another record-breaking quarter, which is when he first floated the 70% growth figure. "I think we could grow 70% year over year. We're confident about that," he said again Thursday. Analysts expect Nvidia to close its current fiscal year at roughly $400 billion in revenue, meaning 70% growth would land somewhere around $680 billion next year. For context, that's more than the GDP of many countries, which presumably also need airplanes to ship.

Why is Huang so confident? Because Nvidia is so deeply embedded in every corner of AI that he believes he can literally see the future. "Nvidia runs every model. Every single lab can use us," he said, name-checking Anthropic, OpenAI, and Google, plus open-weight offerings. "We are a foundational platform of the AI ecosystem, foundational platform of the AI industry." The repetition was apparently for emphasis, not because he forgot he'd just said it.

Nvidia's tentacles reach from memory chip suppliers to data center projects to startups. "We're tracking every single gigawatt of land, power, shell around the world. Literally everything on the planet," Huang said, clarifying that "shell" means the data center building before computers are installed. So, the husk. The empty husk of a building. He's tracking that.

"I mean, just think about all my partners. How many neoclouds are reporting back to us? How many OEMs are reporting back to us? How many clouds are reporting back to us? How many AI-native companies are reporting back to us? We're working with everybody, and so we kind of know where everything is," he said. Which is either impressive or mildly ominous, depending on your disposition.

That comment naturally raised questions about Nvidia's so-called circular deals, where it invests in companies that then turn around and buy its products - a scheme that famously helped sink a previous generation of internet build-out suppliers like Lucent Technologies. Huang's response was simple, if cheeky: "Well, it's not circular because we put a little bit of money in, and a lot of money comes back." He then joked, "I look at the spreadsheet, we put in $1 and $100 comes back in. Is that circular? If that is, let's do more of that."

Quips aside, Huang insisted that before Nvidia invests in any company, it verifies real contracts generating revenue from actual customers. All told, he said he's seen $100 billion worth of such contracts. "I'm not taking any risks. … I need a sure thing."

Time will tell whether Nvidia's death grip on AI can really last. If there's one golden rule in tech, it's that all big things eventually get disrupted. Even Huang acknowledges that much of AI's current growth comes from AI-native startups raising enormous sums and spending most of it on their own AI usage. As the industry matures, expect companies to get more efficient with infrastructure and tokens - which is a polite way of saying they'll buy less stuff.

But for now, Nvidia has a finger in every pie, a spreadsheet where $1 turns into $100, and another year of plenty on the horizon. Whether that's a sustainable business model or just a very confident magic trick remains to be seen.