Nvidia CEO Jensen Huang used a trip to Seoul on June 8 to reframe a brutal tech selloff as a discount opportunity. After a 6% drop in Nvidia stock and a $1.3 trillion wipeout in chipmakers, Huang told investors they should be happy. "We're at the beginning of it... now you can buy at a discount," he said.
The selloff began after a stronger-than-expected U.S. jobs report on June 5 reignited fears of higher interest rates. Broadcom's disappointing results added fuel, sending Micron, AMD, and Marvell into double-digit declines.
Huang's central thesis remains unchanged: the world spends a few hundred billion dollars on AI infrastructure today, but that figure is heading toward trillions. This message, repeated at GTC and earnings calls throughout 2026, positions the current rout as a temporary setback.