At Salesforce’s Dreamforce conference, Jensen Huang’s appearance reinforced bullish views on Nvidia, with investor Ross Gerber citing an onstage exchange between Huang and Salesforce CEO Marc Benioff as evidence of Huang’s leadership. Gerber has tied his Nvidia optimism to Huang’s leadership and the company’s execution, having urged investors in May to watch Nvidia and Micron Technology as Huang described AI infrastructure as the start of a decade-long buildout, and after Nvidia’s August earnings report calling the company “undervalued” and suggesting the stock could eventually reach $450. Huang also laid out the economic case for AI infrastructure spending, saying companies are rapidly building Nvidia-powered “AI factories” and that the infrastructure spending flywheel is “really, really flying.” He said building one gigawatt of Nvidia AI-factory capacity costs between $50 billion and $60 billion, while renting that capacity can generate roughly $50 billion annually, translating to a return on invested capital of about one year. He added that token-generation demand has jumped 25-fold in less than a year, the share of tokens generated by open models climbed from nearly 30% to almost 70%, and Grace Blackwell GPUs can now rent for about $16 per GPU hour, compared with $5 on some year-old contracts. Jim Cramer also reached a bullish conclusion after a sit-down with Huang.