INTERVIEW: Ronnie Vasishta, SVP Telecom at Nvidia (pictured) poured cold water over any notion AI is a bubble, arguing the level of investment and early success being made by other companies in the sector shows concrete progress.

Vasishta’s comments come a few months after major technology investor Elliott Management claimed AI is overhyped and Nvidia’s share price was in “bubble land”, after the AI powerhouse became the world’s most valuable company earlier this year with a market capitalisation of more than $3 trillion.

However, Vasishta told Mobile World Live he is now rarely asked if AI is a bubble anymore, and it is clear from the way the technology is being used and invested in this is not the case.

Vasishta said there is clear evidence of the impact of the technology for its telecoms partners and other companies around the world in how they are now entwining AI into their business models and ways of working.

“I think the question of bubble is kind of past us and we’re moving into the phase of innovation around the deployment of AI.”

Echoing some of the comments Vasishta made during a keynote at MWC Las Vegas 2024, the executive said the “AI clock moves very fast”, pointing to use cases for consumers, along with opportunities to tap into the technology for telecoms providers and in enterprise services.

Following a brief dip over the past few months, Nvidia shares traded at their highest level this week, with the company closing in on Apple to hold the title of the world’s most valuable company for the second time this year.

Click here to watch the full interview.