Nvidia CEO: Don't Fear AI, Embrace It or Get Left Behind

Nvidia CEO Jensen Huang stated at the Milken Institute Conference that AI won't directly cause job losses, but those who fail to utilize it will be displaced. He urged attendees to proactively learn AI tools like Perplexity and ChatGPT. Despite Nvidia's stock being down 15% year-to-date due to US restrictions on AI chip exports to China and concerns over US capacity overbuild, positive sentiment from tech giants Microsoft, Alphabet, and Meta regarding AI service demand and continued capital expenditure are bolstering the AI sector. Prominent investor Robert Smith echoed this optimism, believing many tech companies' AI opportunities are too good to pass up, with some valuations currently undervalued due to unrealized potential and investor apprehension about adopting AI.