What does Nvidia CEO see from his ‘vantage point’?

Nvidia on Wednesday stateside reported fiscal third-quarter figures that beat analyst expectations (ironically, nothing unexpected there). It also provided guidance for sales in the current quarter that exceeded estimates (all good still). It was CEO Jensen Huang’s comment, however, that piqued more interest.

“There’s been a lot of talk about an AI bubble,” Nvidia CEO Jensen Huang told investors on an earnings call. “From our vantage point, we see something very different.”

Of course, this could be the regular sales pitch all CEOs have to do on earnings calls. Which leader is going to publicly put down their business model? Having said that, Huang might be intimating that, because of the insight Nvidia has into the artificial intelligence industry — such as precise sales figures, the relationships and deals still being forged, clients’ plans on utilizing data centers — the sum of the sector is more than its parts.

That could be hopeful thinking. And there was some uncertainty regarding Nvidia’s announced $100 billion investment in OpenAI.

But investors certainly cheered Huang’s statement and the chipmaker’s results. Shares of Nvidia popped more than 5% in extended trading, after its post-bell earnings announcement. Prior to that, shares rose 2.85% in regular trading, pushing up major indexes.

Regardless of what the AI industry and trade might look like in the future, from investors’ perspectives, Nvidia’s earnings are clearly something to celebrate for today.