Nvidia (NVDA) chief executive Jensen Huang apologized for tanking quantum computing stocks earlier this year when he said the technology’s usefulness is still decades away — but one analyst says he’s actually right.

Nvidia founder Jensen Huang kicked off the company’s artificial intelligence developer conference, on Tuesday by telling a crowd of thousands that AI is going through “an inflection point.”

Nvidia has wrapped its GTC keynote, but investors didn't seem too impressed, with shares ending the day down 3.4%.