Jensen Huang just told the world to load up on AI stocks during the latest pullback. The Nvidia chief executive didn’t mince words. He called it a “huge buying opportunity.”
The parallel to Warren Buffett feels uncanny. For decades the Oracle of Omaha has preached that quality businesses become even more attractive when their shares fall. Huang sounds a lot like him now. Short sentences. Clear conviction. And numbers that back it up.
Nvidia reported $81.61 billion in revenue for the most recent quarter. That figure climbed 85% from a year earlier. Data center revenue alone jumped 92% to $75.25 billion. Networking revenue nearly tripled. Free cash flow reached $48.55 billion in just three months. The company guided for $91 billion in the current quarter. It sits on $119 billion in supply commitments from the likes of OpenAI, Anthropic and Meta.
Management isn’t sitting on that cash. The board approved another $80 billion for share repurchases. It lifted the quarterly dividend from a penny to 25 cents. Roughly $20 billion flowed back to shareholders through buybacks and dividends in the first quarter of fiscal 2027. Actions speak loudly here.
Yet questions about an AI bubble refuse to fade.
Some investors worry the spending will prove unsustainable. Valuations look stretched after years of blistering gains. Nvidia shares slipped about 6% between mid-May and early June 2026, trading near $209. Pullbacks like that test nerves. Huang, though, sees something different.
On the earnings call he described the moment as “the largest infrastructure expansion in human history.” Nvidia, he added, stands “uniquely positioned at the center of this transformation as the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced.” Earlier he labeled the Grace Blackwell platform “the king of inference today, delivering an order-of-magnitude lower cost per token.”
Those aren’t throwaway lines. They reflect years of architectural bets that appear to be paying off. Nvidia’s software stack, built over two decades, creates switching costs few rivals can match. Customers don’t just buy chips. They buy an entire platform.
And yet. History offers caution. The dot-com era delivered similar exuberance. Fortunes rose fast and then vanished. Today the Buffett Indicator, which compares total U.S. stock market capitalization to gross domestic product, sits at levels last seen near the 2000 peak. Reuters noted the metric recently topped 200%, flashing warnings for some observers.
Buffett himself has stayed mostly on the sidelines of pure AI plays. Berkshire Hathaway bought $10 billion worth of Alphabet shares recently, according to reports tied to the Yahoo Finance piece. That move signals interest in the broader theme without chasing the hottest names. Huang’s own net worth has soared past Buffett’s at times during 2025, reaching the $140 billion to $150 billion range as Nvidia’s market value climbed toward record highs. CNBC tracked that crossover closely last summer.
But personal wealth isn’t the point. Sustainable returns are. Huang has repeatedly pushed back on bubble talk. In November 2025 he told analysts, “There’s been a lot of talk about an AI bubble. From our vantage point we see something very different.” CNBC captured the full exchange. He pointed to three forces: the end of Moore’s Law, the rise of generative AI, and what he termed genetic AI from labs like OpenAI.
Early 2026 brought more of the same message. Speaking with BlackRock’s Larry Fink at Davos, Huang argued trillions of dollars in infrastructure still need building. “Last year, 2025, was one of the largest years in VC funding ever,” he said. Most of that capital went to AI-native companies in healthcare, robotics and financial services. The application layer will drive further demand for chips and power. Yahoo Finance reported those remarks in January.
The Yahoo Finance article that sparked this discussion laid out the core analogy. When the CEO of the world’s most valuable company urges investors to buy the dip in his own sector, attention follows. Huang framed weakness as a gift. Buffett has said nearly the same thing for 60 years. Buy wonderful businesses at fair prices. Or better yet, at discounts.
But differences exist. Buffett built Berkshire around insurance float and consumer brands with pricing power. Nvidia sells into a world of rapid technological change. Chips become obsolete. New competitors emerge. CUDA’s dominance helps, yet no moat lasts forever. Even Huang acknowledges the pace.
So far the data keeps coming. Nvidia’s latest superchip announcements sent shares higher in early June 2026. Partners like Dell, HP and ARM gained on the news. The Wall Street Journal tracked the market reaction. Demand for accelerated computing shows few signs of slowing. Enterprises want efficiency gains. Governments chase AI leadership. Hyperscalers keep ordering.
Free cash flow at these levels changes everything. It funds research. It supports dividends and buybacks. It creates a virtuous cycle. And it gives Huang room to invest in new areas such as physical AI and robotics.
Still, risks remain. Energy consumption for training models keeps rising. Geopolitical tensions could disrupt supply chains. A sudden slowdown in corporate AI spending would hit hardware providers first. Analysts debate how much of today’s valuation depends on continued explosive growth.
Huang’s response stays consistent. Invest more, not less. Spread the technology across economies. Build the infrastructure now so applications can flourish later. The opportunity looks “really quite extraordinary,” he told audiences in early 2026.
Investors face a choice. They can heed the buy-the-dip call from the man whose company prints money from AI infrastructure. Or they can wait for clearer proof that this expansion avoids past mistakes. Buffett’s record suggests patience wins. Huang’s results suggest speed matters too.
The conversation has evolved. It no longer centers on whether AI will matter. It centers on how much to pay for that future today. And whether temporary weakness represents danger or discount. Huang has placed his bet. So far the numbers support him.
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