On January 21, 2026, during the World Economic Forum (WEF) Annual Meeting, NVIDIA founder and CEO Jensen Huang engaged in a dialogue with BlackRock Chairman and CEO Larry Fink, discussing the impact of artificial intelligence on the global economy, infrastructure, employment, and long-term capital.
During a main stage conversation, NVIDIA founder and CEO Jensen Huang described AI as the foundation for the "largest infrastructure buildout in human history," stating it will drive job growth across the global economy. In his discussion with BlackRock CEO Larry Fink, Huang characterized AI not as a single technology but as a "five-layer cake," encompassing energy, chips and computing infrastructure, cloud data centers, AI models, and finally, the application layer. Huang stated that because each layer of the AI five-layer stack requires construction and operation, this platform transformation is creating employment opportunities throughout the entire economy, spanning from energy and construction to advanced manufacturing, cloud operations, and application development. The application layer is likely to focus on integrating AI into sectors like financial services, healthcare, or manufacturing. Huang remarked, "Ultimately, this is the layer where economic value will be generated." Huang indicated that the deployment of AI, from energy and power generation to chip manufacturing, data center construction, and cloud operations, has already generated demand for a skilled technical workforce. He added that while the application layer will yield the greatest economic benefits, AI is already transforming industries such as healthcare, manufacturing, and financial services, altering the nature of work across the economic spectrum. Huang pointed to venture capital as evidence that AI is reshaping the global economy at a staggering pace. He noted that 2025 was a record-breaking year for venture capital funding, with a significant portion flowing into what he termed "AI-native companies." These companies span healthcare, robotics, manufacturing, and financial services, with Huang stating, "For the first time, the models have reached a level of quality sufficient to build upon." Huang asserted that this investment is directly translating into job creation. He emphasized the demand for plumbers, electricians, construction workers, steelworkers, network technicians, and teams responsible for installing and operating advanced equipment.
**Purpose-Driven Work**
Huang argued that AI is unlikely to cause widespread unemployment. Instead, it is increasing demand in certain fields, such as radiology, while also helping to handle administrative tasks in sectors affected by labor shortages, like nursing. He stated that AI has become a crucial tool in radiology, yet there are now more radiologists than ever before. Huang said, "If you reason from first principles, it's not surprising that the number of radiologists has increased." He explained that the purpose of a radiologist's work is to diagnose illness and help patients, with analyzing scans being just one task among many. Huang added, "They can now analyze scans at an incredible rate, which allows them to spend more time with patients." AI can facilitate their interactions with patients and other clinicians. Furthermore, because they can see more patients, more radiologists are needed. Huang indicated that the nursing industry is undergoing a similar transformation. The United States faces a shortage of approximately 5 million nurses, partly because nurses spend nearly half their time on medical record-keeping and documentation. Commenting on work being done by companies like Abridge, a medical conversation AI startup, and its partners, he said, "Now, they can use AI for transcribing medical records and visit notes." Huang stated that as productivity increases, outcomes improve accordingly. He said, "Hospitals operate more effectively and then want to hire more nurses. AI is boosting productivity, so hospitals want to employ more people." To illustrate the broader point, Huang joked that if someone only observed him and Fink working, "you might think we are both typists." He said that automating typing wouldn't eliminate their jobs because that task is not their core purpose. AI assists in completing tasks, enabling people to achieve their objectives and work more efficiently, thereby increasing employee value. "The question is, what is the purpose of your job?" Huang said.
**AI as Critical Infrastructure**
Huang views AI as a vital component of national infrastructure. He stated, "AI is infrastructure. You should treat AI as part of infrastructure. Every country should treat AI like electricity or roads." He called on nations to build their own AI capabilities based on local languages and cultures. Huang said, "Develop your AI, continuously refine it, and make your nation's intelligence part of its own ecosystem." When Fink asked if only highly educated individuals could use or benefit from AI, Huang countered that perspective, emphasizing that AI's rapid adoption stems from its ease of use. "AI is incredibly easy to use; it's the easiest-to-use software ever created," he said, pointing out that within just two to three years, AI tools have reached nearly a billion people. Consequently, Huang stated that AI literacy has become crucial. "It's clear that learning how to use AI is critical—how to prompt, manage, constrain, and evaluate it." He compared these skills to leadership and people management skills.
**Bridging the Technology Gap**
Huang suggested that for developing countries, AI presents an opportunity to bridge longstanding technological divides. "AI is likely to bridge the technology gap," he said, noting its accessibility and ease of use. Discussing Europe, Huang highlighted manufacturing and industrial strength as its primary advantages. He said, "AI is not programmed; it is cultivated," while urging countries to combine industrial capabilities with AI to unlock the immense potential of physical AI and robotics. "Robotics is a once-in-a-generation opportunity," he stated, especially for nations with strong industrial foundations. Concluding the discussion, Fink remarked that the world is far from experiencing an AI bubble. Instead, he posed a different question: are we investing enough? Huang agreed, stating that substantial investment is needed because "we have to build out the infrastructure required for all layers of AI." He described the opportunity as "remarkable, and everyone should participate." He reiterated that 2025 saw the highest level of global venture capital investment ever, exceeding $100 billion worldwide, with a large portion dedicated to AI-native startups. Huang said, "These companies are building the application layer on top. They need the infrastructure and investment to build the future." Fink added that broad participation in this growth is essential. Fink said, "I believe that participating and growing with this AI world will be a very wise investment for pension funds globally. We need to ensure that ordinary retirees and savers benefit from it. If they are merely spectators, they will feel left out."
Comments