Nvidia shares experienced a slight dip following CEO Jensen Huang’s presentation at the Consumer Electronics Show (CES) earlier this month, despite Huang declaring “the ChatGPT moment for physical AI is here.” The demonstration, featuring Nvidia’s Alpamayo technology autonomously driving a vehicle in San Francisco, failed to significantly boost investor confidence, according to analysts.
Huang’s assertion centers on the potential of Nvidia’s artificial intelligence models to finally enable widespread adoption of driverless cars, with robotaxis identified as an early beneficiary. The company’s Alpamayo technology is described as the world’s first “thinking, reasoning, autonomous AI.” Despite the ambitious claims and a projected $13.6 trillion industry by 2030, according to Fortune Business Insights, skepticism remains on Wall Street.
Two primary factors contribute to the cautious response. The first is the recurring nature of predictions surrounding the imminent arrival of fully autonomous vehicles. Comparisons were drawn to Tesla CEO Elon Musk’s 2016 forecast that a Tesla vehicle would be capable of driving itself from Los Angeles to Novel York City by 2017.
Secondly, investors are closely watching a stalled $100 billion deal between Nvidia and OpenAI, the creator of ChatGPT. The potential collapse of this agreement is cited as a significant concern impacting Nvidia’s stock performance.
Nvidia has consistently delivered strong financial results, achieving ten triple-play earnings beats out of the last thirteen quarters since the launch of ChatGPT in November 2022. However, the market’s reaction to the latest developments suggests that past performance is not necessarily indicative of future success, particularly in the rapidly evolving field of artificial intelligence.
The Global X Autonomous & Electric Vehicles ETF (DRIV) closed at $33.17 on February 26, 2026, down 1.36% or $0.46.
