NVIDIA Corp To Host Financial Analyst Q&A Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ben Reitzes - Melius Research LLC - Analyst : Hi, it's Ben Reitzes with Melius Research. Thank you for having us. This is obviously a lot of fun. I said that at the last meeting. Jensen, I was thinking about this question quite a bit. I want to ask you a big question -- a big-picture question about TAM. You talked about your share of data center spend last year, or data center spend as your TAM, and your share was about 25%, 30% last year. You used the Del Oro forecast. They go to $1 trillion, but that's about a 20% CAGR. So the Street here has your data center growing about 60% but then slowing to the rate of 20% thereafter. But I'm just thinking, you're in all these areas that are growing faster than the market. You're at a 25-ish percent share of the overall data center spend. I'm thinking of Del Oro. I doubt they have robotics and AV data center infrastructure in there. So my question is, with that backdrop, why wouldn't your share of data center spend go up over a three- to five-year period versus this 25%? And why is that CAGR actually not low that Del Oro that you put up there? It doesn't seem like autonomous and robots are in there. So why wouldn't your share go up? You're in all the right areas.