Jensen Huang tells Wall Street they're wrong about Chinese AI - again
Jensen Huang just gave Wall Street a reality check.
At the Wistron factory opening in Fort Worth, Texas, the NVIDIA CEO defended Chinese AI models and dismissed the market panic over Moonshot AI's Kimi K3.
His quote: "The market misunderstood the impact of DeepSeek the first time, and has misunderstood the impact of Kimi again this time."
The Philadelphia Semiconductor Index dropped 12.5% in a week after Kimi K3 launched. Sound familiar? Same pattern as DeepSeek.
Jensen's counterargument is simple: cheaper AI = more AI usage = more GPU demand.
"Free AI should be great for hardware. Free AI should be great for chips. Free AI should be great for data centers."
He also pushed back on security concerns, arguing open models are actually safer because more people can inspect them for vulnerabilities.
The takeaway: the GPU compute market isn't shrinking - it's expanding. Every cheaper model just brings more users into the ecosystem.
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Posted Jul 23, 2026, 5:05 AM UTC