Nvidia CEO says "everybody's jobs will be different" amid AI boom

What they're saying: At a panel alongside Tesla CEO Elon Musk at the U.S.-Saudi Investment Forum in Washington, D.C., Huang said: "It is my guess that Elon is going to be busier because of AI, I'm going to be busier because of AI."

• "In the near-term, I would say that there's every evidence that we will be more productive and yet still be busier."
• Musk went a step further, saying "my prediction is that work will be optional — it will be like playing sports or video games."

Between the lines: Huang emphasized the productivity gains associated with the technology but did not flick at the idea of AI taking jobs from people.

• This mirrors previous comments at the Milken conference: "You're not going to lose your job to an AI, but you're going to lose your job to someone who uses AI."

Threat level: JPMorgan estimates that 15% of jobs will be replaced by AI in the next 20 years, indicating a $7 trillion step up in potential GDP.

• Like most firms on Wall Street, the bank's outlook also cautions that jobs could be created by AI that we don't even know about yet.
• Still, one of the top questions clients are asking their money managers at the bank is whether their college-age children will still be able to get jobs in an AI-powered world.

State of play: Musk's xAI and Saudi-backed company Humain are working on a joint 500-megawatt data center that would use Nvidia's chips, as part of an effort to build some of the world's largest data centers in the region.

• The value of the deal was not disclosed.
• Nvidia is working with the Saudis on supercomputers as well.
• The U.S. appeared to reach a deal with the Saudis regarding purchases of American semiconductors, according to the New York Times.

What we're watching: The panel came before Nvidia's earnings, which are scheduled for after the market close Wednesday.

Editor's note: This story has been updated with additional details.