AI won’t replace software, says Nvidia CEO amid market rout

Nvidia CEO Jensen Huang rejected concerns that AI will replace traditional software and tools, calling such fears "illogical" during a market selloff affecting global software stocks. He argued that AI systems will continue using existing software tools rather than rebuilding them from scratch, pointing to recent AI breakthroughs in tool use as evidence. The comments came as software stocks in India, Japan, and China experienced significant declines, partly triggered by Anthropic's recent chatbot release that heightened disruption fears in data and professional services sectors.