Why Wall Street wasn't won over by Nvidia's big conference

When Nvidia Chief Executive Jensen Huang delivered his annual GTC keynote on Monday, the company's stock began to decline. Wall Street investors appeared unmoved by the more than two-hour speech that covered new video game graphics technology, updated networking infrastructure, autonomous vehicle deals, and a chip developed with Groq for the Vera Rubin system. They instead focused on uncertainties about artificial intelligence's future societal effects and fears of a bubble, a reaction that contrasted with the confidence expressed in Silicon Valley. Huang projected that the AI agent ecosystem represented a $35 trillion market and the physical AI and robotics industry a $50 trillion market. He also said he expected $1 trillion in purchase orders for the company's Blackwell and Vera Rubin chips by the end of 2027. Futurum Chief Executive Daniel Newman told TechCrunch that the rapid pace of innovation has created uncertainty that markets dislike. He added that enterprise AI adoption is reaching an inflection point even if return on investment remains unclear in some reports based on older data. Nvidia's revenue rose 73 percent year over year in the most recent quarter as the company continued to exceed its targets. Amazon has also committed to purchasing 1 million GPUs and related AI infrastructure for its cloud services by the end of 2027, according to Reuters reporting. Kevin Cook, a senior equity strategist at Zacks Investment Research, told TechCrunch that the broader economy is orbiting around Nvidia as it builds infrastructure used across hardware, software, and physical AI applications. Huang described Nvidia as a platform company whose technology, platforms, and ecosystem touch 100 percent of a $100 trillion industry.