Nvidia CEO Jensen Huang Says "The Markets Got It Wrong" on Software Stocks
2026-03-04 09:41:00 ET
Although software stocks have gotten a little reprieve on Wall Street recently, the iShares Expanded Tech-Software Sector ETF (NYSEMKT: IGV) is still down by more than 20% since the beginning of the year as of the close of trading on Tuesday. Investors have been lowering their terminal multiples on these stocks, and selling them due to concerns that artificial intelligence (AI) will be able to build similar software products and services much more quickly and efficiently.
Models from Claude to Perplexity to ChatGPT are certainly impressive, and they can complete a range of different tasks well. So it's understandable that investors and consumers are unsure about what the tech world is going to look like in the future. However, in a recent interview on CNBC, Nvidia CEO Jensen Huang said "the markets got it wrong" on enterprise software. Here's his argument.
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