By Adam Clark
Nvidia stock was gaining early Monday as CEO Jensen Huang brushed off last week's chips selloff.
The shares were up 1.6% at $208.45 in premarket trading. The chip maker's stock was only recouping a part of its 6.2% drop on Friday as investors fled semiconductor stocks in the wake of underwhelming guidance from Broadcom and concerns about higher interest rates.
"Whatever happened to the stock market, you should be very happy because now you can buy at a discount," Huang said in comments to reporters during his trip to South Korea.
Nvidia was a recent Barron's stock pick when shares were trading at around $226, noting it was cheap at a forward price-to-earnings ratio of around 26 times. It currently trades at a forward earnings multiple of 20.16 times, according to FactSet.
On Sunday, South Korean memory-chip company SK Hynix and Nvidia announced a "multiyear technology partnership" to jointly develop the next generation of memory for AI infrastructure. Meanwhile, mobile carrier SK Telecom said Monday that the company and Nvidia have agreed to develop gigawatt-scale AI cloud services in South Korea and to expand into other parts of Asia.
American depositary receipts of SK Telecom were rising 3.5% in the premarket, after falling 8.7% on Friday.
Write to Adam Clark at adam.clark@barrons.com
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June 08, 2026 06:53 ET (10:53 GMT)
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