When Nvidia CEO Jensen Huang took the stage for his annual GTC keynote on Monday, the $4-trillion-dollar company’s stock started to drop.
Wall Street investors, it seems, were unmoved by the leather jacket-clad founder’s bullish 2.5-hour speech. Instead, they placed more weight on AI’s uncertain future and fears of a bubble. The nervousness felt by Wall Street couldn’t be more different than the buzzy atmosphere in Silicon Valley, where confidence, not uncertainty abounds.
Huang talked for more than two hours about the company’s latest innovations, from new video game graphics tech and updated networking infrastructure to autonomous vehicle deals and a new chip designed with Groq to accelerate AI inference in the Vera Rubin system. He also threw out some eye-watering numbers about Nvidia’s business and beyond. Huang called the AI agent ecosystem a $35 trillion market and the physical AI and robotics industry a $50 trillion market.
Huang also said he expects to see $1 trillion worth of purchase orders for the company’s Blackwell and Vera Rubin chips — just two of Nvidia’s many products — by the end of 2027.
Shouldn’t that make investors excited? It’s not surprising that they aren’t, Futurum CEO Daniel Neuman told TechCrunch.
A great new uncertainty
“[AI] is so good, so transformational, and moving so fast that we don’t actually understand what it’s going to mean for all the things that are the societal constructs that we’ve come to understand,” Neuman said. “The markets hate uncertainty. The speed of innovation has actually created a great new uncertainty that I think most people never expected.”
Some of that uncertainty comes from misleading information coming out of the market, Neuman said, who added that headlines about low enterprise adoption of AI aren’t painting the full picture — at least, based on conversations he’s having.
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“Enterprise AI adoption is going to hit inflection and scale very quickly,” Neuman said. “I actually think it’s happening. When you say it’s not, I think what you’re probably saying is the [return on investment] and the receipts are still a little bit undefined and companies are citing the surveys and the reports that are largely six …