At an internal Nvidia meeting, Jensen Huang admitted: It's too difficult. "If things go well, it's called an AI bubble," "If there's even a little disappointment, the whole world will collapse."

At an internal Nvidia meeting, Jensen Huang admitted: It's too difficult. "If things go well, it's called an AI bubble," "If there's even a little disappointment, the whole world will collapse."

As the global market is embroiled in debates over an “AI bubble,” even the most successful company, Nvidia, is facing unprecedented scrutiny. As the core supplier of AI infrastructure, every move Nvidia makes is seen as a barometer of the overall health of the industry.

According to a Friday report by Business Insider, Nvidia CEO Jensen Huang admitted in an internal meeting on Thursday that despite the company posting “incredible” results, “the market doesn’t appreciate it.” The head of the chip giant rarely acknowledged that Nvidia now faces a dilemma with no solution: if its performance is stellar, it’s accused of fueling an AI bubble; if its performance is poor, it’s seen as evidence the bubble is bursting.

At the meeting, Huang stated that market expectations for Nvidia are so high that the company is trapped in a kind of “no-win situation.” He said frankly: “If we deliver a bad quarterly report, even if it’s just a little bit below expectations, the whole world feels like it’s collapsing.”

Trapped in a “No-Win Dilemma”

According to audio of the meeting obtained by Business Insider, Huang elaborated on Nvidia’s current situation at the internal meeting on Thursday. “If we deliver a bad quarterly report, that’s evidence of an AI bubble. If we deliver a great quarterly report, we’re accused of fueling the AI bubble,” he said.

Huang pointed out that market expectations for Nvidia are now so high that it’s difficult to satisfy investors no matter how the company performs. He mentioned online discussions about the company’s vast economic impact, saying, “You should check out some jokes on the Internet. Have you seen any? We’re basically supporting the entire planet—that’s not inaccurate.”

He also cited some posts claiming Nvidia’s results are helping the United States avoid an economic recession, highlighting how the market sees this chipmaker as a key indicator of macroeconomic health.

Nvidia’s earnings report released Wednesday showed third-quarter revenue accelerating by 62%, with guidance once again topping expectations. When the report came out, Huang refuted the growing talk about an AI bubble. However, the market reacted unpredictably: the stock price rose on Wednesday (up over 6% at one point), then fell sharply on Thursday (down 7%). The company’s market value evaporated by about $500 billion in just a few weeks.

Huang jokingly referred at the meeting to the “good old days” when the company had a $5 trillion market value. “No one in history has lost $500 billion in a few weeks,” he said, “You have to be worth a lot to lose $500 billion in a few weeks.”

This market value fluctuation reflects how investor confidence in the AI investment boom is wavering—even in the face of strong performance data, the market still has doubts about sustainability.

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