Nvidia CEO Jensen Huang Told Investors in Seoul to “Buy at a Discount” During the Recent AI Stock Sell-Off. Here’s Whether His Call Has Paid Off.

The artificial intelligence (AI) market was looking very shaky two months ago.

On May 14, after a record run-up in share price, Nvidia (NASDAQ: NVDA) stock had surpassed $235/share, giving the company a $5.7 trillion market cap. Then investors began to worry that the AI boom had gotten too far ahead of reality. Over the next few weeks, AI shares took a beating, with Nvidia’s dropping 15%, and AI hyperscalers Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Amazon (NASDAQ: AMZN) each plunging 11%. (Not to brag, but I called it.)

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That’s when Nvidia CEO Jensen Huang gave a piece of jaw-dropping advice to AI investors. Two months later, has his advice paid off?

Huang’s advice

Huang was in Seoul for a series of business meetings, including one in which he finalized a partnership with South Korean memory chipmaker SK Hynix to design next-generation AI memory chips.

Between meetings, the Nvidia CEO spoke to reporters, and he didn’t mince words. Here’s what he said about the AI boom: “We’re at the beginning of it, and whatever happened to the stock market, you should be very happy…