Nvidia CEO Jensen Huang said demand is up huge this year as artificial intelligence models develop further from answering simple questions to complex reasoning.

“This year, particularly the last six months, demand of computing has gone up substantially,” said Huang on CNBC’s “Squawk Box.”

The CEO of the AI chip leader was answering a question about what investors ask him most about. Nvidia shares were higher in premarket trading as Huang gave his bullish comments.

AI reasoning models are using exponential amounts of computing power, Huang said. But they are also seeing exponential amounts of demand because their results are so good, the CEO said.

“The AIs are smart enough that everybody wants to use it,” Huang said. “We now have two exponentials happening at the same time.”

“Demand for Blackwell is really, really high,” he said. “I think we’re at the beginning of a new buildout, at the beginning of a new industrial revolution.”