This week Jensen Huang, the charismatic leather jacket-wearing head of Nvidia, has dominated headlines. No wonder: on Wednesday his company, which is a bellwether for the artificial intelligence sector, revealed third-quarter revenues of $57bn, 62 per cent higher year on year.
That sent tech stocks soaring, after they had slumped earlier on fears that AI valuations are in bubble territory. In other words, they are displaying “elements of irrationality”, to cite Sundar Pichai, head of Google owner Alphabet.
And Huang duly celebrated. “There has been a lot of talk about an AI bubble. [But] from our vantage point we see something very different,” he declared, noting sky-high demand for his chips.
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