Nvidia (NVDA) Chief Executive Officer Jensen Huang characterized a global technology stock selloff as an opportunity to purchase shares at a discount, Bloomberg News reported Monday, citing his comments during a trip to Seoul.
The sector is still in its primary phases of setting up infrastructure that will support an artificial intelligence-driven future, the news outlet quoted Huang as saying.
The chipmaker closed a multi-year deal with SK Hynix to design future generations of artificial intelligence memory hardware, the report said.
Shares of Nvidia were down 6.2% in Monday premarket activity.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
