Shares of Nvidia (NVDA) closed nearly 8% higher in Wednesday's trading session after CEO Jensen Huang touted extraordinary demand for AI chips at the Goldman Sachs Communacopia and Technology Conference. Huang particularly noted that the chip demand is "intense" and that "everybody is counting on us."

Morning Brief Hosts Seana Smith and Brad Smith report more on the story and the heated competition among chip players as they each fight for market share of the chip trade.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl