On December 2 local time, NVIDIA's CFO Colette Kress strongly responded to the "AI bubble" skepticism at the UBS Global Technology and AI Summit, emphasizing that the world is in the "early stage" of AI infrastructure transformation, and the company's leading advantage remains solid.

New Chips Are Added, Not Replaced: Computing Power Continues to Accumulate

In response to market concerns about the "AI bubble," Kress provided key data: most of the new AI chips delivered by NVIDIA are used to add new data center infrastructure, rather than replace existing installations. This means global AI computing power is continuously accumulating and growing, rather than just replacing old equipment.

Kress reiterated the company's previous forecast: NVIDIA expects global AI investment to reach $3 trillion to $4 trillion by the end of 2030, with about half of that amount related to the shift from traditional CPUs to accelerated computing. She believes the global economy is currently in the "early stage" of transitioning to the data center infrastructure required for AI.

NVIDIA

The Leading Advantage Is "Absolutely Not" Shrinking

When asked whether NVIDIA's leading advantage was shrinking, Kress gave a firm response: "Absolutely not."

She emphasized the uniqueness of NVIDIA's GPU design: "It is particularly important to note that we have conducted highly coordinated joint design across all aspects... This has nothing to do with any function-fixed ASIC (application-specific integrated circuit) in the market, and it is completely different. Everyone is currently using our platform. All models run on our platform, whether in the cloud or on-premise, and all workloads also are."

This statement highlights NVIDIA's confidence in its technological moat — compared to function-fixed specialized chips, the joint design architecture and ecosystem advantages of NVIDIA GPUs form an insurmountable competitive barrier.

Kress's remarks were made against the backdrop of NVIDIA's stock and the broader AI industry facing valuation doubts. As the gap between the speed of AI application deployment and the huge investment has raised market concerns, the statements from NVIDIA's executives, as a core supplier of AI computing infrastructure, play an important role in stabilizing market confidence.