Nvidia chief executive Jensen Huang blasts AI bubble calls as NVDA’s valuation soars to a historic high.
In a new Bloomberg interview, Huang dismisses bubble talks in the industry, arguing that today’s AI boom reflects real adoption, real monetization and a structural shift in computing — not speculative excess.
He says AI is far from the hype-based narrative, as the technology is already delivering measurable productivity and commercial value inside the enterprise.
“I don’t believe we’re in a bubble. And the reason for that is we’re going through a natural transition from an old computing model based on general-purpose computing to accelerated computing. We also know that AI has now become good enough because of its reasoning capability, research capabilities, its ability to think. It’s now generating tokens and now generating intelligence that’s worth paying for to the point where I’m paying lots of it.”
Huang’s comments come as Nvidia becomes the first-ever company in history to reach a market cap of $5 trillion. On Wednesday, NVDA rallied to a fresh all-time high of $212.
Fed Chair Jerome Powell echoes Huang’s sentiment that AI is not in bubble territory. Speaking after announcing a 25-basis-point rate cut, Powell said the AI trade is different from the dot-com bubble seen in the late 1990s, as the tech leaders today have income-generating business models. He also highlighted that AI is a big source of growth in the economy.
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