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Jensen Huang: NVIDIA hardware deployed across all major cloud providers (Google, Amazon, Azure, OCI) regardless of their custom silicon investments
Jensen Huang· NVIDIA· AI· 2026-07-21· about NVIDIA (NVDA)
“And so, as a result of the fact that anybody can operate our systems, we're in every cloud, including Google and Amazon and, you know, Azure and OCI and, right?”
Why it matters
This statement reveals that despite Google's TPU and Amazon's custom chip efforts, both companies still deploy NVIDIA hardware at scale. This suggests NVIDIA's ecosystem lock-in and flexibility make it difficult for cloud providers to fully replace NVIDIA even with proprietary silicon.
Investment implication
Cloud providers (GOOGL, AMZN, MSFT/Azure, Oracle/ORCL) remain structurally dependent on NVIDIA for AI workloads even as they develop custom accelerators. This limits the addressable market opportunity for TPU and other proprietary ASICs and supports NVIDIA's pricing power.