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Huang said “this will all pass,” with Nvidia falling just 1%, while the tech sector as a whole lost more than $1 trillion in a single day.
AMD and Intel each fell nearly 6% as investors sold riskier chip names and held Nvidia, whose 56% net margin made it the safe haven of the group.
Oil surpassing $101 per barrel and the 10-year Treasury yield at 5.10% led to the selling, and these macroeconomic forces are ones that Huang’s AI optimism cannot counter.
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Jensen Huang, general manager of Nvidia (NASDAQ:NVDA), spent Friday October 16, 2026 touring Europe. At an event in Berlin, he gave investors a simple answer to a difficult session: “This will all pass, and the reason is very simple.”
The interview was published after the close and the time he spoke was not disclosed, so his remarks should be read as having been made during the drop. Tech stocks lost more than a trillion dollars on the same day oil hit its highest level in five months.
The Nasdaq 100 fell 2.5% to 29,187.55, leaving it about 7% below its last all-time high. The S&P 500 lost 1.1% and the Philadelphia semiconductor index fell 3.8% for its eighth straight day of decline, its longest such streak since 2008.
Nvidia slipped just 1.43% to $214.13 and retained a market value of $5.17 trillion. It then rose 0.21% after hours to $214.57. What you need to decide is whether Huang’s confidence speaks to the forces that actually caused the sale.
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Huang proposed sentencing but no new figures
Huang added: “This is going to be transformative. It will have a very positive impact on every industry and every country. There is no doubt that this will continue, and we are only at the beginning.” He argued that the benefits of technology will soon outweigh investors’ concerns.
He made no new commitments. Huang announced no orders, no revised forecasts and no customers. His comments therefore reflect the point of view of a leader who has everything to gain from continued spending on AI.
Gn bussni
