Nvidia Corp. Chief Executive Officer Jensen Huang projects that chip sales will double over the next twelve months, driven by the expanding adoption of artificial intelligence across a wide range of industries.

During a sideline conversation at an event hosted by King Charles III in Scotland on Thursday, Huang told reporters that AI delivers significant advantages to numerous sectors. As the leading provider of AI accelerators—semiconductors essential for creating and operating AI systems—the company is well-positioned to capitalize on this growth.

Huang's optimistic outlook persists despite mounting concerns surrounding AI, with industry leaders debating whether to slow the pace of development due to potential dangers. He emphasized that corporations must take responsibility by ensuring their AI software and services are safe before introducing them to the public.

In its latest financial guidance last month, Nvidia forecast a 70% revenue jump for the upcoming fiscal year, while noting that sales could potentially double if supply constraints were eased to match the unprecedented demand.

On Thursday, shares of Nvidia climbed as much as 2.5% in New York trading, recovering some ground after last week's downturn. The stock has gained approximately 17% so far this year.