Nvidia Corp Chief Executive Officer Jensen Huang called a global tech stocks selloff that began last week a buying opportunity, saying the buildout of artificial intelligence has just begun.
South Korea’s benchmark Kospi Index tumbled on Monday after investors pulled back from AI bets that have fuelled a bull market in global equities.
Fears of overheating in the AI trade have cooled global tech stocks, with US peers tumbling Friday on concerns over a possible rate hike.
Huang, responding to questions about how that selloff should be perceived, said the industry was still in the early stages of constructing infrastructure that will serve as the foundation of an AI-fuelled future.
On Monday, Nvidia and SK Hynix said they struck a multi-year agreement to design future generations of memory chips for AI, a win for a South Korean leader vying with Samsung Electronics Co. in the red-hot arena.
Stocks including SK
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