In an exclusive interview on FOX Business, Nvidia founder, CEO and President Jensen Huang expanded on "the big idea" behind the artificial intelligence (AI) boom, what it means for human jobs and the company’s plan to ramp up its chip production.

The artificial intelligence chipmaker failed to meet lofty expectations of some investors who have made it the world's most valuable firm.

The AI chip giant gave a strong outlook, pointing to healthy demand for next-generation chips.

Nvidia has reported a surge in third-quarter profit and sales as demand for its specialized computer chips that power artificial intelligence systems remains robust.

Huang brushed aside reported engineering snags with the new GPU offering and said the platform's Q4 sales should exceed prior estimates.

Nvidia has increased its market value by $2.5 trillion and dethroned Apple as the world’s most valuable tech company.

US chipmaking behemoth Nvidia said Wednesday it made a $19 billion profit on record high revenue last quarter as demand continued for its hardware to power artificial intelligence.

Revenues for the quarter were $35.1 billion, up 94% from a year ago and a 17% increase from the previous quarter. Profits were $19.3 billion, an increase of 109% from the same time last year. Gross margins dipped slightly to 74.

The age of AI is in full steam, propelling a global shift to Nvidia computing', adding that demand for Nvidia's newest chips was 'incredible'.