Nvidia boss defends AI against claims of bubble by 'Big Short' investor

Nvidia CEO Jensen Huang has defended the artificial intelligence sector against claims of a market bubble, asserting that the industry is "a long, long way" from a collapse similar to the 2008 financial crisis. His comments come after investor Michael Burry, known for his successful bet against the US housing market, revealed he has taken short positions against Nvidia and other tech stocks, fueling concerns about an AI bubble. These bets coincided with a significant overnight drop of approximately $500 billion in technology stocks. Huang explained that the current AI boom represents the early stages of a "long build out" of the technology. He highlighted that AI is unique in requiring substantial infrastructure development and that Nvidia has seen significant returns from its AI investments, leading to expansion. He further argued that improvements in AI training have resulted in more effective and useful outputs, making AI profitable, which in turn drives accelerated infrastructure build-out by suppliers. The UK government also expressed confidence in AI's transformative potential. Technology Secret... download the app to read more