Last week, investors were reminded that even the hottest markets do not move in a straight line.
After months of relentless optimism around artificial intelligence, technology stocks suddenly came under pressure. Concerns about interest rates, valuations, and the pace of AI spending triggered a broad selloff across global markets. AI-linked stocks that had been leading the market higher were among the hardest hit.
While many investors worried that the AI trade may have run too far, too fast, Nvidia CEO Jensen Huang sees the situation very differently.
His message is simple:
The AI buildout has barely started.
“You Can Buy at a Discount”
Speaking during a visit to Seoul, Huang described the recent decline in technology stocks as an opportunity rather than a warning sign.
According to him, investors should focus less on short-term market volatility and more on where AI infrastructure is headed over the next decade.
His view is that stock prices may fluctuate, but the underlying demand for AI computing power continues to grow.
As Huang put it:
“Whatever happened to the stock market, you should be very happy because now you can buy at a discount.”
That is a bold statement at a time when many investors are questioning whether AI-related companies deserve their current valuations.
Why Huang Remains So Confident
The core of Huang’s argument is straightforward.
The world is still building the foundation required for an AI-powered future.
Today’s AI models require enormous amounts of computing power, specialized chips, networking equipment, storage systems, and advanced memory solutions. The infrastructure supporting AI is still being constructed.
In Huang’s view, we are not nearing the end of the AI investment cycle.
We are closer to the beginning.
Just as the internet required years of investment in servers, fiber networks, and cloud infrastructure before reaching its full potential, AI is now going through a similar phase.
The companies supplying that infrastructure stand to benefit if AI adoption continues to expand.
Nvidia’s New Partnership Reinforces That View
Huang’s comments came as Nvidia announced a multi-year partnership with SK Hynix, one of the world’s leading memory chip manufacturers.
The agreement focuses on developing future generations of memory technology specifically designed for AI workloads.
Why does this matter?
Because AI systems are becoming increasingly dependent on advanced memory solutions. As models become larger and more complex, memory performance is becoming just as important as raw processing power.
The partnership signals that major players across the semiconductor industry continue to invest aggressively in the next wave of AI infrastructure.
That is not what an industry looks like when growth is slowing down.
The Bigger Question: Is AI Becoming Like the Internet?
Perhaps the most important part of Huang’s comments was not about stock prices.
It was about AI’s role in the future economy.
Huang argued that AI will become a foundational technology, much like the internet became over the past three decades.
When the internet first emerged, many investors focused on individual websites and early applications. Over time, it became clear that the internet itself was becoming essential infrastructure for nearly every industry.
Huang believes AI is heading down the same path.
If that happens, the demand for computing power, data centers, networking equipment, and semiconductor technology could remain strong for many years.
His exact comparison was striking:
AI will become infrastructure for the world, just as the internet became infrastructure for the world.
What Investors Should Take Away
The recent selloff highlights an important reality.
Even powerful long-term trends experience periods of fear, profit-taking, and volatility.
The market’s short-term concerns revolve around interest rates, valuations, and economic uncertainty.
Huang’s focus is on something much larger:
The long-term buildout of global AI infrastructure.
Whether investors agree with him or not, his perspective provides an important reminder.
The biggest technological shifts often take longer to unfold than expected, but they also end up being much larger than most people initially imagine.
The key question for investors is not whether AI stocks will experience volatility.
That is inevitable.
The real question is whether AI eventually becomes as essential to the global economy as the internet did.
If Huang is right, today’s debate may look very small compared to the opportunity that still lies ahead.