What AI fears? Nvidia and a disparate group of software companies have dispelled and debunked a whole host of longstanding tech concerns in the final throes of earnings season—at least for now. 

The AI chip maker signaled that the boom is in no way about to slow down, issuing a jaw-dropping 70% revenue growth forecast for next year. Cue a chip stocks and general momentum rally Thursday.

That has often meant a software slump but not today, thanks to Salesforce, Okta, CrowdStrike, and Nutanix earnings. AI disruption worries have plagued the sector this year, but the market may have been spooked too easily. 

Anthropic, the sector’s tormentor-in-chief for large parts of the year, is starting to look more like a friend than a foe. Salesforce unveiled ‘Claudeforce’ late Wednesday, integrating its systems into Anthropic’s Claude chatbot. It’s better to have your enemies inside the tent, and all that. 

For cybersecurity companies, like CrowdStrike and Okta, the rapid rise in AI adoption is leading to an equally dramatic jump in demand for its products.

The market’s deep-seated fears may never completely disappear but for now the AI trade is reigniting.

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