Nvidia CEO Huang dismisses fears of memory glut by 2029

Memory stocks sell off after South Korean column warns of oversupply; Huang says demand will remain strong

By LineZotpaper

Published22 October 2026

Updated22 October 2026

Read Time2 min

Sources3 outlets

Nvidia CEO Jensen Huang said Thursday he sees no sign of a memory supply glut by 2029, pushing back against investor concerns that have driven a selloff in memory stocks over the past week.

Speaking to CNBC on the sidelines of Nvidia's GTC Berlin conference, Huang dismissed predictions of a memory oversupply that would turn the market "into a red ocean" by 2029. "One of the things that's really great about memory is that you can always use more of it," he said. He noted that high-bandwidth memory (HBM) would remain in use for years and highlighted Nvidia's use of LPDDR memory in data centers.

The selloff in memory stocks followed an opinion column in a prominent South Korean publication on Oct. 15 that urged the government to brace for a deceleration in the AI boom. The column, citing two experts, warned of a "flood of new supply" that could lead to a downturn by 2029. Separately, China's ChangXin Memory Technologies (CXMT) announced a new design architecture that could improve efficiency, adding to investor worries about oversupply and market share.

Elon Musk responded to the column by saying China "will be making a LOT of RAM in 2028." When asked about partnering with CXMT, Huang said Nvidia is "open-minded," noting that "the whole world works with Chinese companies in the supply chain somewhere." He added that U.S. export regulations have "definitely accelerated" China's semiconductor advancements, but said American tech firms are "mighty" and prepared to compete.

Analysis

Why This Matters

Memory stocks are crucial to the AI supply chain; a glut could hit profits at SK Hynix, Samsung and Micron, and affect Nvidia's chip costs.
The dispute highlights growing uncertainty about whether AI-driven demand can sustain current production expansions.
China's CXMT advances and Huang's openness to Chinese partners signal shifting dynamics in global memory markets.

Background

Memory stocks have been under pressure after a column in a South Korean publication warned that the AI memory "supercycle" could end by 2029 as new supply floods the market. At the same time, China's CXMT has emerged as a potential competitor with new design efficiencies. Nvidia is a major consumer of memory for its AI accelerators. U.S. export controls have restricted sales of advanced chips to China, which Huang says has spurred China's domestic chip development.

Key Perspectives

Nvidia: Huang expresses confidence that demand for memory will remain strong for years, driven by AI workloads, and sees no oversupply risk. Memory makers (SK Hynix, Samsung, Micron): Face investor fears of a 2029 oversupply and potential loss of market share to Chinese rivals. Chinese firms (CXMT): New architecture could improve efficiency and competitiveness, potentially capturing share from established players. Critics citing oversupply: The column's experts argue that planned production will outpace AI demand, leading to a downturn in 2029. U.S. regulators: Export controls aimed at slowing China's AI progress may have accelerated Chinese semiconductor self-sufficiency, per Huang.

What to Watch

CXMT's ability to scale production and win customers like Nvidia.
Memory pricing and utilization rates at SK Hynix, Samsung and Micron through 2027-2029.
Any changes to U.S. export controls or Chinese government support for CXMT.
Nvidia's own memory procurement plans and partnerships.

Sources

Nvidia's Jensen Huang says he sees no sign of a 2029 memory glut: 'You can always use more' · Tech
Nvidia's Jensen Huang says he sees no sign of a 2029 memory glut: 'You can always use more' · US Top News and Analysis
Jensen Huang pushed back on 2029 memory glut fears amid stock selloff · Quartz

Checked

12 claims in this story checked against 1 source: 10 supported.

Show each claim

SupportedHuang sees no sign of a memory glut by 2029.Tech: “Nvidia CEO Jensen Huang told CNBC Thursday that a surplus of memory supply is unlikely by 2029”
SupportedThe summary says memory stocks sold off after a South Korean column warned of oversupply.Tech: “Memory stocks have taken a battering in the past week after an opinion column published in a prominent South Korean publication on Oct. 15 urged the country’s government to brace for a deceleration in the AI boom.”
Not in the sourcesHuang said memory demand will remain strong.
SupportedInvestor concerns about oversupply and weakening demand drove a selloff in memory stocks over the past week.Tech: “a sell-off in memory stocks over the past week amid concerns about oversupply and weakening demand”
SupportedHuang said, “One of the things that's really great about memory is that you can always use more of it.”Tech: ““One of the things that’s really great about memory is that you can always use more of it,” Huang told CNBC’s Arjun Kharpal”
SupportedThe column’s experts forecast that the memory market would turn “into a red ocean” by 2029.Tech: “The column cited two experts who said they expect to see a “flood of new supply,” which will turn the memory market “into a red ocean” in 2029, per CNBC’s translation.”
SupportedMusk said China “will be making a LOT of RAM in 2028” in response to the column.Tech: “SpaceX and Tesla CEO Elon Musk responded to the article at the time, saying that China “will be making a LOT of RAM in 2028.””
SupportedCXMT announced a new design architecture that could improve efficiency.Tech: “The memory selloff was also driven by China’s ChangXin Memory Technologies, or CXMT, which announced new design architecture that could lead to greater efficiencies.”
SupportedHuang said Nvidia was “open-minded” when asked about partnering with CXMT.Tech: ““We’re open-minded,” Huang said Thursday when asked about whether he plans to partner with CXMT and use its memory product.”
Partly supportedHuang said “the whole world works with Chinese companies in the supply chain somewhere.”Tech: ““We work with Chinese companies; just about the whole world works with Chinese companies in the supply chain somewhere.””
SupportedHuang said U.S. regulations had “definitely accelerated” China’s semiconductor advancements.Tech: “China “definitely accelerated because of all the regulations,” he said. “We’ve definitely accelerated China’s initiatives, its nationalization of semiconductor manufacturing capabilities, and all of the industrial support that has been put into that sector””
SupportedHuang said American tech firms are “mighty” and prepared to compete.Tech: “Huang emphasized that American tech firms are “mighty” and are prepared to take on competition “from anybody.””