Nvidia CEO Jensen Huang declared that AGI has arrived, pointing to OpenAI’s new Astra model trained on 100,000 Grace Blackwell chips. Market reaction was mixed: CoreWeave surged 15%, SoftBank gained 2%, while Nvidia fell 2%. Analysts note that companies most leveraged to OpenAI like SoftBank, Oracle and CoreWeave saw stock gains, while Nvidia declined as it’s considered too big to grow. The chipmaker recently reported $96 billion in quarterly revenue, up 106% year-over-year, with guidance for $108 billion next quarter. Economist Basil Halperin argues that financial markets don’t anticipate transformative AI for decades, suggesting deep skepticism toward Huang’s declaration.
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