Nvidia CEO Jensen Huang has reportedly told Nvidia employees in a leaked all-hands meeting that “the market did not appreciate” the AI giant despite the company’s record-breaking quarter, according to Business Insider. The company’s stock price slid from around $195 to a low of $180 just one day after it released its quarterly earnings, which is a surprise given Nvidia’s performance. This meant that its market capitalization dropped from its all-time high of $5.12 trillion to around $4.4 trillion, with the company losing around $365 billion in just one day of trading.
It seems that this movement is driven by fears of an AI bubble, something that many experts and analysts, including former Intel CEO Pat Gelsinger, have been warning about. “If we delivered a bad quarter, it is evidence there’s an AI bubble. If we delivered a great quarter, we are fueling the AI bubble,” Jensen said during the meeting. He also added, “If we delivered a bad quarter, if we’re off by just a hair, if it just looked a little bit creaky, the whole world would’ve fallen apart.”
