AI Bubble Fears Grow, But Nvidia CEO Gives Bulls a New Argument Anyway

Nvidia guided to $108 billion in quarterly revenue last month, up from $96.2 billion. Nvidia CEO Jensen Huang says that jump reflects a shift into what he calls a “high production ramp.”

He made the case in an extended interview published Sunday, days after warnings from rival AI leaders knocked chip stocks lower and accentuated bubble talk.

Nvidia CEO Says AI Products Have Turned Profitable

Huang said the artificial intelligence (AI) industry spent its first 10 to 15 years in research. That changed this year, he said, when the technology became useful and the output of AI products started making money.

Companies such as OpenAI and Anthropic are now moving from laboratories into product businesses, he argued. Both are adding computing capacity faster than any company in history.

“…in the last six months practically the industry has shifted to high production ramp mode,” Jensen Huang told CBS.

He also dismissed forecasts that AI could end humanity by 2030, saying the claim is not grounded in science.

Investors Still Want Proof the Spending Pays Off

The market has been testing that view. Nvidia fell 3.4% on September 14 after Anthropic’s Dario Amodei, OpenAI’s Sam Altman and Elon Musk backed slowing development, and chip stocks fell broadly. Amodei wrote that the industry had lied about AI risk for too long.

"I won’t lie to you — there are real dangers. And I think for too long the industry lied to people about the fact that this technology had risks," Dario Amodei told @jolingkent.So why, then, should people trust the AI industry now? pic.twitter.com/NCpxIaPUKW

— Brian Stelter (@brianstelter) September 14, 2026

Investor Michael Burry has expanded his Nvidia short position, calling the stock overvalued. Meanwhile, local data center opposition keeps spreading, a fight Huang conceded the industry handled badly.

Nvidia is worth roughly $5.3 trillion, making it the most valuable listed company. That ties Huang’s credibility to the spending he defends.

President Donald Trump has taken his side, calling AI safety fears a hoax and naming an AI czar.

“I’m telling you it’s all a hoax. The data centers are great. They make people wealthy. They make states wealthy. AI is bigger than the internet. These people are playing right into the hands of China. We’re not going to let that happen,” Trump told Jensen Huang  in a live phone call.

Huang said he will attend a state dinner with Chinese President Xi Jinping next week, where he plans to press for shared AI standards. Several other industry executives, including Sam Altman and Elon Musk, are expected to attend.

🚨🇺🇸🇨🇳 Elon got an invite from Trump to attend the White House state dinner with Xi on Thursday.Also invited:-Jeff Bezos-Jensen Huang-Sam Altman-Sundar Pichai-Michael Dell-Tim CookMany of these same names were with Trump when he went to Beijing in May.Who needs…

— Mario Nawfal (@MarioNawfal) September 20, 2026

Nvidia’s next earnings report will show whether the ramp Jensen Huang describes is still accelerating.