CEO of world’s most valuable company has a tip for investors
Nvidia CEO Jensen Huang: AI will become global infrastructure Tech stocks fall amid fears of Fed interest rate hike Nvidia CEO Jensen Huang has described
Nvidia CEO Jensen Huang: AI will become global infrastructure Tech stocks fall amid fears of Fed interest rate hike Nvidia CEO Jensen Huang has described the recent global technology stock selloff as a major buying opportunity for investors across the world, saying the AI boom is still in its early stages. Jensen Huang’s comments came as technology shares around the world faced pressure following a sharp pullback in AI-related stocks and concerns about a possible US interest rate hike. Speaking in Seoul, Huang said investors should focus on the long-term growth of AI infrastructure rather than short-term market movements.As reported by Blomberg, Jensen Huang, CEO of the world's most valuable company, was responding to questions about the recent market decline.
He said the AI industry is still at the start of a major expansion phase."We're at the beginning of it, and whatever happened to the stock market, you should be very happy because now you can buy at a discount," Jensen Huang said. "Everybody should be very excited," he added.Jensen Huang reiterated his long-held view that AI will become a core part of the global economy, similar to the role the internet plays today. "It is a foregone conclusion that AI will be infrastructure for the world, just like the internet was infrastructure for the world," he said.According to Huang, the growth of AI will continue to create demand for data centers, advanced computing systems and the chips required to run future AI services.Global technology stocks have come under pressure in recent days as investors reduced exposure to AI-related companies that had driven much of the market's gains.
On Friday, June 5, US tech stocks tumbled with semiconductor stocks leading the sell-off amid concerns of an interest rate hike by the US Federal Reserve.South Korea's benchmark Kospi
Index also fell on Monday amid concerns that enthusiasm around AI investments may have become overheated. Similarly, Japan's Nikkei 225 index slid by around 4.5%, the most in three months.
The BriefWire