Column: Jensen Huang doesn’t need a new chip. He needs a new moat.
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Jensen Huang is building a new moat with open-source AI — not out of generosity, but necessity, our tech columnist writes.
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In this article BABA NVDA Follow your favorite stocks CREATE FREE ACCOUNT NVIDIA CEO Jensen Huang gestures during the NVIDIA GTC global AI conference in San Jose, California, U.S. March 17, 2026. Carlos Barria | Reuters Nvidia dominated the first era of AI -- CEO Jensen Huang is making sure it owns the next one. He's turning Nvidia from a chipmaker that's helping to drive a market cycle into the operating system for the future of artificial intelligence. The shift has mostly gone unnoticed and hasn't yet been priced in by investors. But the clearest signal to date came this week. At Nvidia's annual developer conference, GTC , Huang launched NemoClaw, an open-source, chip-agnostic platform for building and deploying AI agents – autonomous software programs at the center of the latest advancements in the industry. "Every company in the world should have an agentic system strategy," Huang said. "This is the new computer now." New chip announcements got most of the attention at GTC, but the NemoClaw launch is the more important strategic shift and shows what Nvidia is actually becoming. Why the chipmaker model isn't enough Nvidia won the AI training era by locking in users. Its chips and software ecosystem became so deeply embedded in how AI models are built that switching to a competitor was nearly impossible. But the industry is shifting from building and training models to running them, and the inference workload doesn't require the same lock-in. Google , Amazon and Broadcom are all building their own inference-tailored chips. The moat that made Nvidia the most valuable company in the world is thinning. Selling chips, even the best chips, eventually means selling into a cycle. Owning the platform where those chips run is a more durable business. It's stickier, higher-margin, and harder to displace. That's where Huang is going on the offense with NemoClaw. The platform play NemoClaw is built on OpenClaw, an open-source agent created by a solo developer that went viral...
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