Jensen Huang described the sharp drop in artificial intelligence (AI) stocks across domestic and global markets last week as "noise," calling it a prime opportunity to buy shares at a discount. He also urged people to hold firm confidence in the future of Korean AI.
Huang offered his views on the broader stock market at the "Korea AI Ecosystem" reception hosted by Nvidia at the guest house of the Shilla Hotel in Jung-gu, Seoul, on Tuesday.
"The reason all cloud service providers (CSPs) around the world are dramatically increasing their AI investments is that AI clearly makes money," he said. "This is exactly the key point the market is missing."
He explained that in the near future people will see with their own eyes just how incredibly profitable an industry AI is. "You will soon understand why smart investors and developers like us are pouring in such enormous amounts of money," Huang said.
However, he noted that not every company will reap the fruits of AI equally. "SpaceX's AI division is generating $1 billion (about 1.528 trillion won) in profit in a single month, and last week it announced another large-scale AI deal with Google," Huang said. "Even Google uses Nvidia-based computing infrastructure, so Nvidia keeps absorbing market share."
He explained that while Nvidia's market share continues to expand, other companies may be relatively weak. But he added that weakness at a particular individual company should not be mistaken as an indicator weighing on the entire global AI market.
Huang stressed that even as the domestic market plunged on concerns about the AI industry, he would not lose confidence in the future of Korean AI. "I am convinced that Korea is an incredibly fantastic and optimal place to invest in the future AI industry," he said. "I hope you will hold firm confidence in the future of Korean AI."
