Axios

Mike Allen × Jensen Huang

Jensen Huang says the Kimi selloff repeats DeepSeek’s market misread: free, capable models should expand AI use and NVIDIA hardware demand, while NVIDIA’s China sales are “approximately zero today.”With chip capacity, power, land and labor constraining a 5-to-10-times industry buildout, Huang sees a bubble as “very unlikely in the next five years,” but robots and billions of agents remain the next demand catalyst.