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In a recent company meeting on Thursday, Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang reportedly expressed his dissatisfaction with the market’s response to the company’s exceptional quarter.
The company’s stock soared on Wednesday but declined on Thursday, reflecting wavering confidence in the AI sector.
Huang said the market "did not appreciate" what he described as an "incredible" quarter, according to a report by Business Insider.
He also acknowledged the high expectations for Nvidia, stating that the company was in a “no-win” situation due to its massive economic influence. Huang also mentioned online discussions about the chip designer’s role in preventing a U.S. recession.
He humorously reminisced about the “good old days” when the company had a $5 trillion market cap, according to the report. Nvidia’s current market cap is about $4.3 trillion.
The company did not immediately respond to Benzinga‘s request for comment.
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Investor optimism over Nvidia's strong earnings was tempered by renewed concerns about the lofty valuations of artificial intelligence companies and the rapid pace of investment by major tech firms such as Amazon (NASDAQ:AMZN) Meta (NASDAQ:META), and Oracle (NYSE:ORCL) in the data centers needed to support generative AI.
Investor Michael Burry recently criticized Nvidia’s capital allocation strategy, particularly its aggressive stock buybacks, which he claims have added zero shareholder value.
On the other hand, Wedbush's Dan Ives said Nvidia's latest results were a key "validation moment" for the AI boom, even with the day's sell-off. He also stressed that it's "not an AI bubble," pointing to the company's "blowout quarter" and strong demand signals around Blackwell and Rubin.
Benzinga's Edge Rankings place Nvidia in the 93rd percentile for quality and the 98th percentile for growth, reflecting its strong performance in both areas. Check the detailed report here.
Price Action: Nvidia stock slipped 3.15% on Thursday to close at $180.64, per Benzinga Pro. On Friday, pre-market, it is trading over 2% lower. On a year-to-date basis, it gained 30.61%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
