‘We excel at every phase of AI’: Nvidia CEO quells Wall Street fears of AI bubble amid market selloff

Jensen Huang opens earnings call with attempt to dispel concerns after his $5tn firm beat Wall Street expectations

Nvidia shares are rising in after-market trading after the company posted third-quarter earnings that beat Wall Street estimates. All eyes were on Nvidia, the bellwether for the AI industry and the most valuable publicly traded company in the world, as analysts and investors hoped the chipmaker’s third-quarter earnings would assuage concerns about whether the high-flying valuations of AI firms have peaked.

Jensen Huang, founder and CEO of Nvida, opened the earnings call with an attempt to dispel those concerns. In sum, Huang said, there’s a major transformation happening in AI and Nvidia is foundational to that transformation.