Nvidia CEO Dismisses AI Replacing Software as 'Illogical'

Nvidia CEO Jensen Huang refutes concerns that AI will replace software tools, labeling such fears as 'illogical' amid a global software stock decline. His defense comes after AI developer Anthropic's new chatbot release sparked widespread apprehension about AI-driven disruption across the data and services industry.

Nvidia CEO Jensen Huang has refuted concerns about AI replacing existing software tools, dismissing such fears as 'illogical' amidst a global downturn in software stock prices. Speaking at a San Francisco AI conference, Huang emphasized that artificial intelligence will augment, not obliterate, existing software frameworks.

The recent selloff in global software stocks, triggered partly by AI developer Anthropic's new chatbot release, has raised anxieties about potential disruptions within the data and professional services sectors. Asian markets were particularly affected, with software stocks in India, Japan, and China experiencing significant losses.

Shares of India's IT exporters plummeted by 6.3%, while Japan's Recruit Holdings and Nomura Research also suffered, falling by 9% and 8%, respectively. Meanwhile, the CSI Software Services Index in China saw a 3% drop, and Kingdee International Software Group's shares in Hong Kong decreased by over 13%.

(With inputs from agencies.)