Nvidia CEO Challenges Cybersecurity Fears During Goldman Sachs Conference
At a recent Goldman Sachs conference, Nvidia CEO Jensen Huang labeled fears that artificial intelligence (AI) will destroy civilization as “complete nonsense.” He suggested that some cybersecurity companies may benefit from inciting public fear about AI, stating, “Who doesn’t want their market to be hysterical about their product?”
Huang pointed out that Nvidia’s valuation, trading at about 24 times estimated future profits, remains competitive compared to top cybersecurity stocks like Palo Alto Networks, which trades at nearly 80 times its expected earnings, and CrowdStrike, trading at around 170 times. Nvidia has outperformed these companies significantly, rising approximately 850% in value over the past five years, compared to 260% and 360% gains for CrowdStrike and Palo Alto, respectively.
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