09:58 AM EDT, 03/20/2024 (MT Newswires) -- Nvidia ( NVDA ) will ship its recently unveiled Blackwell AI chip later in 2024, Chief Financial Officer Colette Kress said Tuesday.

"Many of our customers that we have already spoken with... have provided us their demand," Kress said on a conference call with analysts, according to a Capital IQ transcript. "And that has been very helpful for us to begin our supply chain work to begin our

volumes and what we're going to do."

Chief Executive Jensen Huang told CNBC Tuesday the Blackwell chip could cost $30,000 to $40,000 each.

The company said Monday that the chip will allow organizations to run generative AI at up to 25 times less cost and energy consumption compared with its predecessor.

On the analyst call, Huang said the company doesn't really sell chips as these "don't work all by themselves."

"You need to build them into a system," Huang said. "And so Nvidia ( NVDA ) builds entire data centers for AI."

He said the data center market is worth $250 billion a year.

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