Nvidia CEO says AI stock selloff will pass as benefits outweigh concerns

Nvidia CEO Jensen Huang dismissed the recent AI stock-market selloff, asserting the technology's benefits will soon outweigh investor concerns. He stated the downturn will pass because AI will positively transform every industry and country. Huang's comments came after the Philadelphia Stock Exchange Semiconductor Index fell for eight straight days, its longest losing streak since 2008, with Nvidia shares dropping in seven of the last eight sessions. He acknowledged "choppy news" but insisted it won't change fundamentals, urging focus on long-term value. Nvidia, the largest seller of AI accelerators, is central to global AI infrastructure build-out. The selloff has hit CoreWeave Inc, a cloud provider backed by Nvidia, whose bonds signaled distress and stock lost a quarter of its value this week.