Nvidia CEO Jensen Huang denies the chip boom will go bust soon and actually utters the infamous phrase ‘this time is different’

The semiconductor industry is notorious for going through boom-and-bust cycles, but Nvidia CEO Jensen Huang doesn’t think a downturn is imminent, although he echoed reasoning that’s been used to justify past bubbles.

After chip stocks soared on the AI frenzy, they have sold off hard in recent weeks amid renewed fears about the sustainability of massive capital expenditures. That’s despite strong earnings and guidance from top chipmakers as well as persistent shortages due to insatiable demand.

In an interview with Axios cofounder Mike Allen, Huang was asked if the sector is due for a bust, and he replied “no, not for a while.” Allen then offered “so this time is different?”

“This time is different because this is not demand driven,” Huang said. “This time is different because it’s not seasonal. It’s not demand driven means seasonal-demand driven. This is........

© Fortune