Nvidia CEO Jensen Huang told employees this week that the company has been pushed into a no-win situation by mounting fears of an AI bubble, even as it continues to post blockbuster results, according to audio of an internal all-hands meeting reviewed by Business Insider.

Nvidia is king in AI chips, but custom ASICs are gaining ground with Google, Amazon, Meta, Microsoft and OpenAI now making their own.

The numbers couldn’t have come at a better time for Nvidia’s new infrastructure partners Brookfield and the Kuwait Investment Authority, which this week unveiled plans to amass a $100 billion portfolio of physical assets that underpin the delivery of AI, including AI factories, power stations and data centers.

Microsoft, Nvidia, and Anthropic seal a multibillion-dollar AI pact, scaling Claude on Azure with Nvidia chips to bring frontier models to more enterprises.

Analysts say Nvidia's blockbuster earnings show the AI boom is still accelerating and that fears of an AI bubble are overstated.

Nvidia shares were initially up after an earnings report that included raised revenue guidance for the next quarter. But shares closed 3% lower.

I would say that there's every evidence that we will be more productive and yet still be busier because we have so many ideas,” Jensen Huang said.

CEO Jensen Huang addresses the AI bubble and highlights Nvidia's new partnerships with Anthropic, OpenAI, and xAI.

Directly into AI infrastructure: servers, storage, power and cooling systems, along with a vast quantity of chips to support Search, Ads, YouTube, Gemini, and