While most CEOs duck for cover when their stock drops 6% in a day, Jensen Huang grabbed a microphone in Seoul and told investors to open their wallets.
The Nvidia chief used a visit to the South Korean capital on June 8 to reframe the brutal tech selloff that began days earlier as something closer to a clearance sale. His logic: AI infrastructure development is barely out of the starting blocks, and the recent carnage just means you can get in cheaper.
“We’re at the beginning of it, and whatever happened to the stock market, you should be very happy because now you can buy at a discount.”
What triggered the rout
The selloff kicked off around June 5 after a stronger-than-expected US jobs report reignited fears that the Federal Reserve might push interest rates higher. Broadcom’s disappointing results poured accelerant on the fire. The combined damage erased roughly $1.3 trillion in market value from US-traded chipmakers alone.
