Jensen Huang, chief executive of Nvidia, dismissed doubts about the artificial intelligence (AI) chip market sparked by Broadcom, saying, "What happened in the market last week was just noise," and called Korea "the most fantastic place to invest in relation to the AI future."
Speaking to reporters after Nvidia's "Korea AI Ecosystem Reception" held at the Shilla Hotel in Jung-gu, Seoul, on Monday, Huang said, "Nvidia's market share keeps increasing, but other companies may perform relatively less well." He added, "This should not be used as an indicator to judge what is actually happening in the world." Huang said, "AI is the beginning of a new infrastructure era," noting, "AI will become essential public infrastructure like electricity, and I think now is exactly the beginning of building it."
Earlier, Broadcom presented a third-quarter AI-related revenue forecast of $16 billion (about 24.616 trillion won), below market expectations, on Wednesday, after which AI chip investment sentiment in the domestic stock market also deteriorated. Huang's remarks were interpreted as a response to this. Huang said, "AI is a profitable business, and that is exactly why all cloud companies are increasing their AI investments," adding, "The market does not yet understand this point." He explained, "People will understand why investors and companies like us are pouring enormous amounts of money into AI," and said, "Nvidia keeps increasing its market share."
Huang then said, "Manufacturing, heavy industry, the electronics industry, software, and AI must all converge into robotics, and Korea has all of these elements." He added, "Korea is at the world's highest level, and that is why I came to Korea."
