NVIDIA CEO Jensen Huang touts the 'beginning of a new industrial revolution'

NVIDIA CEO Jensen Huang has spoken to CNBC after meeting with the Biden administration and tech executives at the White House about the future of AI development and what it will take to produce it.

Huang joined other major tech executives at the White House who are also assisting in the development of AI, with reports confirming the presence of OpenAI's CEO Sam Altman, Anthropic CEO Dario Amodei, Google President Ruth Porat, Amazon's cloud chief Matt Harman, and Microsoft President Brad Smith. On the other side of the fence were government officials from various agencies, such as Commerce Secretary Gina Raimondo, National Security Advisor Jake Sullivan, and Energy Secretary Gennifer Granholm.

What was the meeting about? Huang explained that the conference focused on how the US government could assist in the development of data centers across the US, particularly in the form of implementing initiatives that ultimately would lead the US to maintain its lead in the global AI race. Companies require a significant amount of energy to power these massive data centers, which was also a topic of the meeting as the Energy Department will help data center owners find clean and reliable power sources along with new resources in the form of loans, grants, and tax credits.

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The Financial Post reports that over the next decade, the growing demand for electricity caused by new data centers, along with other factors, will increase overall electricity demand by between 15% and 20%.

"Near-term data center driven electricity demand growth is an opportunity to accelerate the build out of clean energy solutions, improve demand flexibility, and modernize the grid while maintaining affordability," the Energy Department said in a blog post last month