Nvidia CEO Jensen Huang defended his decision to “rip the Band-Aid off” on the company’s gross margins as the chip giant continues to power some of the world’s most advanced artificial intelligence models.

The CEO addressed reports of potential 15% price hikes while touting the company’s job creation as Nvidia employs roughly 42,000 people worldwide.

“This quarter we decided that we would rip the Band-Aid off, reset expectations about our gross margins, and just explain to people that in fact, we have now absorbed the cost increases,” Huang said during an interview with “The Claman Countdown” that airs Thursday.

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