Nvidia CEO Jensen Huang said on Friday that artificial intelligence had reached a "virtuous cycle," tipping the industry for continuous growth.

Speaking at the APEC CEO Summit in South Korea, Huang said the vast improvements in AI models were leading to more investment in the technology, which was, in turn, improving the AI models even further.

"We have now achieved what is called the virtual cycle," he said on stage at the event, wearing a suit rather than his usual black leather jacket.

"The AIs get better. More people use it. More people use it, it makes more profit, creates more factories, which allows us to create even better AIs, which allows more people to use it. The virtual cycle of AI has been designed, and this is ... the reason why you're seeing the world's capex goi

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