February 4, 2026, 5:08 AM EST. Nvidia CEO Jensen Huang dismissed fears that AI will replace softwaretools as illogical, saying AI will rely on existing software rather than rebuild basics from scratch. Speaking at an AI conference in San Francisco hosted by Cisco, Huang argued that breakthroughs are about tool use. The remarks came after a broad selloff in global software stocks linked to Anthropic's chatbot update. Indian IT exporters and tech firms fell, with Infosys down about 7%, while China's CSI Software Services Index and Hong Kong's Kingdee tumbled. In Japan, Recruit Holdings and Nomura Research slid. Nvidia's plan to invest up to $100 billion in OpenAI has stalled, according to a report.
