Why Wall Street didn’t win with Nvidia’s big rally

When Nvidia CEO Jensen Huang took his role GTC history On Monday, the $4-trillion-dollar company’s stock began to fall.

Wall Street investors, it seems, were unmoved by the leather jacket founder’s 2.5-hour speech. Instead, they put more weight on the uncertain future of AI and the fear of the bubble. The fear that Wall Street feels could not be more different from the atmosphere of Silicon Valley, where confidence, uncertainty abounds.

Huang spoke for more than two hours about the company’s innovations, from a new perspective video game graphics tech and network updates to autonomous vehicles and a new chip developed by Groq to support AI tracking in the Vera Rubin system. He also released some amazing numbers about Nvidia’s business and beyond. Huang called the AI ​​agent ecosystem a $35 trillion market and the physical AI and robotics market a $50 trillion market.

Huang also said that he hopes to see Purchases worth $1 trillion for the company’s Blackwell and Vera Rubin chips – just two of Nvidia’s many products – by the end of 2027.

Shouldn’t that make investors happy? It’s no wonder they’re not, Futurum CEO Daniel Neuman told TechCrunch.

Great new doubt

“(AI) is so great, it’s so revolutionary, it’s moving so fast that we don’t understand what it’s going to mean for all the things we do that we understand,” Neuman said. “Markets hate uncertainty. The rush of innovation has created a new level of uncertainty that I think a lot of people didn’t expect.”

Some of that skepticism stems from misinformation coming out of the market, Neuman said, who added that headlines about business adoption of low-level AI don’t paint the full picture — at least, based on the conversations they’re having.

“Enterprise AI adoption is hitting very fast,” Neuman said. “I think it’s happening. When you say it’s not, I think what you’re saying is (reimbursements) and receipts are still a little unclear and companies are citing surveys and reports that are mostly six-month data.

This sentiment becomes richer when you look at Nvidia’s numbers from previous quarters. While companies aren’t releasing their AI ROI, they’re buying more of Nvidia’s technology. The company continues to not only hit its top goals and quarterly estimates, but beyond. Nvidia’s stock is up 73% over the past year.

There is no sign that will change anytime soon. For example, this week Nvidia confirmed that Amazon planned to buy 1 million GPUs, along with other AI hardware, by the end of 2027 for Amazon Web Services (AWS), according to reports from Reuters.

Kevin Cook, an analyst at Zacks Investment Research, agreed with Neuman and joked to TechCrunch that unhappy investors do not change the fact that the entire stock market is controlled by Nvidia, because its technology drives many of these trading tracks.

“The economy revolves around Nvidia,” Cook said. “It’s building this critical infrastructure. All these different companies in hardware and software are physical AI — even Caterpillar is now physical AI — that are building platforms.”

None of this means that there isn’t an AI bubble now or there won’t be in the future. But while GTC may not have been a catalyst for Nvidia stock, the high uncertainty doesn’t appear to be Nvidia’s fault. The company seems to be moving forward, which is bringing the entire world economy.

“Nvidia, as you know, is a platform company,” Huang said in his GTC keynote. “We have the technology. We have our platforms. We have a rich ecosystem, and today there is probably 100% of the $100 trillion investment here.