Nvidia chief Jensen Huang said during an interview with CNBC on Wednesday that demand for the tech giant’s Blackwell “Superchip” is “insane,” sending Nvidia shares up more than 3% on Thursday. Nvidia shares reached as high as $124.

"Blackwell is in full production, Blackwell is as planned," Jensen Huang said. "Everybody wants to have the most and everybody wants to be first."

Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.

The head of the chipmaker and investor favorite said in an interview on CNBC Wednesday that demand for the company's AI chips is "insane."

His AI-powered search engine recently announced a $50 million Series B round with investors including Nvidia ( NVDA ), Salesforce ( CRM) Ventures, and DuckDuckGo. The capital raise valued the Google ( GOOG) and Yahoo rival at close to $1 billion.

The coming growth will be offset by the "incredible productivity" to come from reducing power grid waste, Jensen Huang says.

Nvidia shares climbed as much as 5% on Tuesday as Barron's reported CEO Jensen Huang is done with planned sales of stock. Huang has reached the 6-million-share maximum threshold he's permitted to sell under a prearranged plan adopted in March.