Tech stocks shed over a trillion dollars in a single session while oil and Treasury yields climbed, yet Nvidia's CEO stood in Berlin projecting calm certainty about AI's future. Whether his confidence addresses the forces that actually triggered the selloff is the question every chip investor now faces.
Tech stocks shed over a trillion dollars in a single session while oil and Treasury yields climbed, yet Nvidia's CEO stood in Berlin projecting calm certainty about AI's future.
Whether his confidence addresses the forces that actually triggered the selloff is the question every chip investor now faces.
Tech stocks shed over a trillion dollars in a single session while oil and Treasury yields climbed, yet Nvidia's CEO stood in Berlin projecting calm certainty about AI's future. Whether his confidence addresses the forces that actually triggered the selloff…
Jensen Huang, chief executive of Nvidia (NASDAQ:NVDA | NVDA Price Prediction), spent Friday, October 16, 2026, touring Europe. At an event in Berlin, he gave investors a one-line answer to a rough session: “All of this is going to pass, and the reason for that is very simple.”
The interview was published after the close, and the time he spoke was not disclosed, so his remarks should be read as made during the decline. Tech stocks lost more than a trillion dollars in value on the same day oil hit a five-month high.
The Nasdaq 100 fell 2.5% to 29,187.55, which left it about 7% below its latest all-time high. The S&P 500 lost 1.1%, and the Philadelphia semiconductor index dropped 3.8% for its eighth straight losing day, its longest such streak since 2008.
Nvidia slid only 1.43% to $214.13 and kept a market value of $5.17 trillion. It then rose 0.21% after hours to $214.57. What you need to decide is whether Huang’s confidence speaks to the forces that actually caused the selling.
Huang Offered Conviction but No New Numbers
Huang added: “It’s going to be transformative. It’s going to impact in a very positive way every single industry and every single country. There’s no question it will continue, and we’re at the beginning of that.” He argued that the technology’s benefits will soon outweigh investors’ concerns.
He made no new commitments. Huang announced no orders, no revised guidance, and no customer, so his comments reflect the view of an executive who stands to gain the most from continued AI spending.
Averytin News Financial update.