Nvidia CEO’s speech wasn’t the “wake-up moment” investors wanted, stock falls

If this was the “Super Bowl of AI,” then Nvidia is this year’s Kansas City Chiefs.

Shares of the chip designer hit their highs of the day as Jensen Huang stepped onstage to deliver his keynote address at the firm’s GPU Technology Conference, having pared a loss of as much as 4% to a decline of less than 0.5%.

Nothing he said was able to fuel any additional rally in the stock.

From about 1:45 p.m. ET onward, the stock basically traded like a more volatile version of the S&P 500, with none of the CEO’s remarks leaving a large impression.

Suffice it to say this was not the “wake-up moment for the tech bulls” that some analysts had been expecting. The stock was down more than 2.5% by the time Huang wrapped up.

“Nvidia’s GTC keynote delivered key updates, including Blackwell Ultra for 2H and Rubin for 2026-27, and reinforced its AI lead,” wrote Bloomberg Intelligence analysts Kunjan Sobhani and Oscar Hernandez Tejada. “Yet with expectations already high, the lack of near-term surprises kept investor sentiment muted, even as its advancements in GPUs, integration with CPO, and presence in automotive and telecom continue to widen its moat and expand its customer base beyond cloud providers.”