Nvidia’s Huang dismisses fears AI will replace software tools as stock selloff deepens

Nvidia CEO Jensen Huang dismissed fears that artificial intelligence ‍will replace software and related tools, calling the idea “illogical”, after a significant ⁠selloff in global software stocks on Tuesday.

The selloff, partly sparked by AI developer Anthropic’s updated chatbot release last week that heightened fears of AI-driven ‌disruption in ‌the data and professional services industry, broadened on Wednesday, hitting software stocks in India, ‌Japan and China.