Nvidia chief executive Jensen Huang has warned that artificial intelligence will have a major impact on businesses across the world, as companies and governments race to strengthen their position in the rapidly growing technology sector.
Huang made the remarks while stressing the need for Europe to develop a complete artificial intelligence ecosystem rather than focusing on only one part of the technology.
“The important thing for us is to recognise that Europe needs to build out the entire stack,” he said, referring to the wider AI chain, which includes data centres, cloud infrastructure, chatbots and other applications.
The Nvidia boss later told AFP that the company had invested about $8 billion in Europe over the past year as part of efforts to support the continent’s growing AI industry.
According to Huang, Nvidia has been backing companies operating across different areas of the ecosystem, with the goal of helping Europe develop stronger local AI capabilities.
He identified British data centre and AI cloud company Nscale and Dutch cloud provider Nebius among the companies that have received investment.
“In the last one year, we’ve invested $8 billion already. We have another couple of billion dollars in the pipeline,” Huang said, adding that Nvidia was helping Europe build a stronger AI ecosystem.
Huang was in Stockholm for the launch of Sferical One, a Swedish supercomputer powered by Nvidia technology. The system is designed to allow sensitive Swedish data and expertise to remain within the country.
His visit also coincided with an announcement from Volvo Cars, which revealed plans to expand its partnership with Nvidia as it works to improve safety technology for its planned self driving vehicles.
The developments highlight the growing push by European companies and governments to strengthen their AI infrastructure while reducing reliance on technology and services developed elsewhere.
