Dec 2, 2025 - Business

Nvidia CFO: "Absolutely not" losing lead in AI race

Nathan Bomey

Nvidia held a conference in Washington, D.C., on Oct. 29 to showcase its progress on AI. Photo: Kent Nishimura/Bloomberg via Getty Images

Nvidia's CFO on Tuesday rejected the argument that competitors are catching up to the world's most valuable company and insisted that the AI economy is not in a bubble.

Why it matters: Nvidia briefly passed the $5 trillion market cap threshold in October, becoming the first company to do so, but the stock is down more than 11% over the last month amid concern about competition.

The big picture: Nvidia CFO Colette Kress — the No. 2 executive at the chip giant — said the company is "absolutely not" losing its lead, adding that "everybody is on our platform."

In an interview with an analyst at the UBS Global Technology and AI Conference, she added that the economy is "in the early parts" of transitioning to the data center infrastructure needed to power AI.
Kress reiterated that Nvidia envisions $3 trillion to $4 trillion in global AI investments by the end of the decade.

Context: Nvidia shares slipped last week on reports that Meta was in talks with Google about using Google's custom chips, called TPUs, in its data centers.

That pushed Nvidia to social media to defend the wide applications of its own GPUs, saying on X that its popular chips were "a generation ahead of the industry."

The intrigue: Kress said that Nvidia's recently announced plan to invest up to $100 billion in ChatGPT creator OpenAI isn't a done deal.

"We still haven't completed a definitive agreement, but we're working with them," she said without specifying whether there's a hangup.
"I do believe our work with them will never end," she added.

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Nvidia CFO: "Absolutely not" losing lead in AI race

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