Analysis

Nvidia’s share price is about to plummet, but it’s all part of the plan

Nvidia boss Jensen Huang knows this is his moment, and he’s capitalising on surging demand for his AI chips and his white-hot shares.

Paul Smith and James Thomson

Updated May 23, 2024 – 12.24pm, first published at 11.30am

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While he has competition for the moniker from OpenAI’s Sam Altman, Nvidia’s increasingly famous founder and chief executive Jensen Huang has shown again why many view him as the Steve Jobs of the AI era, after his company’s earnings once again blew past market expectations.

Just as Jobs’ visionary product nous and unrivalled ability to sell a corporate story saw Apple rise from the doldrums to become the biggest tech company on the planet, Huang is showing a similarly keen eye for rousing the masses, despite having a much less consumer-friendly product to sell.

Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.