NVIDIA CEO SAYS AI MARKET TURMOIL WILL PASS | THE STRAITS TIMES

What happened: Nvidia CEO Jensen Huang said the AI market turmoil "is going to pass," telling Bloomberg in Berlin that AI will be transformative across industries and countries. Key numbers: Philadelphia Stock Exchange Semiconductor Index fell for eight straight days, its longest losing streak since 2008. Nvidia shares dropped in seven of the past eight sessions. Why it matters: Huang argued choppy news will not change the fundamentals and that returns on hardware investment will ease market jitters. Investors have worried AI spending is not sustainable amid higher borrowing costs.

Nvidia CEO Jensen Huang said the AI market turmoil "is going to pass," telling Bloomberg in Berlin that AI will be transformative across industries and countries.

Huang argued choppy news will not change the fundamentals and that returns on hardware investment will ease market jitters. Investors have worried AI spending is not sustainable amid higher borrowing costs.