NVIDIA Corp (NASDAQ:NVDA) CEO Jensen Huang highlighted $1 trillion in orders for AI chips at the company's recent GPU Technology Conference.

The large figure and future demand for the company's AI chips did little to win over investors, something that tech investor Gene Munster says might show expectations for the tech giant are too low.

• NVIDIA stock is showing upward movement. Why is NVDA stock advancing?

Nvidia Shows Strong Demand, But Investors Are Worried

Huang's $1 trillion figure and Nvidia’s announced partnerships have left many analysts bullish post-GTC, but investors haven't come around yet.

"Jensen's keynote reinforced a simple point: demand is tracking well above even high expectations, while investors remain concerned that growth beyond 2027 could slow sharply or even decline," Deepwater Asset Management's Munster said in a recent blog post.

Munster highlighted Nvidia stock falling around 3% in the three days after GTC, while the Nasdaq fell around 1.4% over the same time period.

The market expert said Nvidia's updated guidance shows growth closer to 40% year-over-year for calendar year 2027, compared to previous analyst consensus estimates of 30%.

"Even with a stronger-than-expected demand implication, the shares struggled to fully reflect the improvement."

Munster said the minimal reaction by investors could show a "wall of worry around Nvidia," with investors hearing upside but not believing the level of growth can be sustained.

Physical AI Extends Nvidia's Growth Runway

Along with highlighting demand for AI chips, Nvidia also used the GTC to show ways the company isn't just a chip company, Munster said.

Munster said physical AI should be a "more meaningful growth driver" starting in calendar year 2028.

After around 3% of revenue last year, automotive and robotics could grow significantly, according to the technology investor.

"We believe the segment represents another mega growth driver for the company, and can grow from $2.3B last year to more than $70B by CY30," Munster said

The Deepwater Asset Management managing partner said the $70 billion estimate from Deepwater is based on items such as humanoid robots, autonomous vehicles and robotic manufacturing all seeing strong future demand.

Nvidia Stock Price Action

Nvidia stock is up 2.10% to $176.33 on Monday versus a 52-week trading range of $86.63 to $212.19. Nvidia shares are down 5.45% year-to-date in 2026, but remain up over 45% over the past year.

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