Polymarket says Jensen Huang told investors the AI stock selloff is temporary, saying all of this is going to pass

Context

This is a secondhand post from Polymarket, a prediction market. The quote comes from Huang's interview with Bloomberg's Emily Chang at an event in Berlin, as reported by others.

Deep dive

On October 16, Polymarket posted that Nvidia CEO Jensen Huang assured investors the AI stock selloff is temporary, declaring: All of this is going to pass.

According to a report on Emergent, Huang spoke with Bloomberg's Emily Chang at a Bloomberg event in Berlin that day. The report quotes him saying all of this is going to pass, and the reason for that is very simple, because AI is going to be transformative and impact every single industry and every single country in a very positive way. It also quotes him calling recent developments choppy news that will not change the fundamentals.

The same report says the Philadelphia Stock Exchange Semiconductor Index had fallen for eight straight days, its longest losing streak since the 2008 financial crisis. That figure comes from the report and was not checked against market data here.

Huang was in Berlin for Nvidia's GTC event, where SemiAnalysis said several neoclouds were refused access after adding chips from rivals, as covered earlier in this deck. Polymarket's post does not mention the context or link to the interview.

What to expect next

Watch whether chip stocks recover in the coming sessions or the losing streak continues, and whether Bloomberg publishes the full interview.

Also watch Nvidia's next earnings report, where investors will look for evidence on whether AI demand is holding up as Huang says. Comments from big cloud buyers such as Microsoft, Google, Amazon and Meta on their spending plans will also shape how the selloff plays out.