Nvidia Corp. CEO Jensen Huang stated that artificial intelligence (AI) is reshaping software engineering by shifting developers away from repetitive coding tasks and toward building AI agents, systems, and tools designed to automate complex work. This transition signifies a fundamental change in technical skills required within the industry, as engineers prioritize the creation of autonomous systems over traditional programming.

Huang explained that the rise of "agentic systems" is creating a new category of technical skills. "These agentic systems are new skills and now we have a lot of software engineers building agents," Huang said. He added, "If you ask me, every one of my software engineers prefers to be building agents than to be writing Python code."

The Nvidia CEO emphasized that AI is reducing the amount of manual coding engineers perform. This shift allows professionals to focus on higher-level tasks such as designing AI systems, creating benchmarks, and developing safety measures known as guardrails. "You’re taking all the mundane work, and you’re trying to get this agent to do it," Huang said. "That requires imagination, that requires creativity, a lot of technology. I think that’s spot on."

Industry Leaders Embrace Agentic AI

The trend toward agentic AI is not limited to Nvidia. Marvell Technology Inc. CEO Matt Murphy previously indicated that AI agents could fuel increased spending on networking, optical connectivity, and custom silicon. As AI systems become more interconnected, they generate greater data traffic across clusters, driving infrastructure demand. Marvell cited stronger-than-expected AI infrastructure demand and raised its long-term growth outlook.

Amazon.com Inc. Web Services CEO Matt Garman also highlighted that agentic AI was reshaping software development. He noted that AI-powered tools are transforming productivity and business applications. AWS introduced new AI products and expanded partnerships, including access to OpenAI models. Garman predicted that "everything is going to be remade" by AI.

Microsoft Corp. CEO Satya Nadella reinforced the shift toward "agentic computing," stating that AI agents were becoming a central part of the technology ecosystem. Microsoft focused on expanding its AI infrastructure and developing AI systems for productivity, coding, and cybersecurity. The company reported that its AI business surpassed $37 billion in annual recurring revenue.

Analysts on CNBC's Halftime Report shared their final trade recommendations, highlighting Nvidia, Toast, Microsoft, and ServiceNow. The selections were driven by recent corporate developments and analyst upgrades, reflecting shifting market dynamics in the tech sector.

Joseph M. Terranova, senior managing director for Virtus Investment Partners, recommended NVIDIA Corporation (NASDAQ: NVDA). Nvidia expanded its Washington D.C. presence on June 12 by appointing veteran lobbyist Bruce Andrews as chief external affairs officer to steer government affairs amid escalating U.S.-China tensions over advanced AI chips. Andrews will report to General Counsel Tim Teter.

Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, named Toast, Inc. (NYSE: TOST) as his final trade. Piper Sandler analyst Billy Fitzsimmons assumed coverage of Toast on June 11, assigning an Overweight rating and setting a price target of $32.

Rob Sechan, CEO of NewEdge Wealth, picked Microsoft Corporation (NASDAQ: MSFT). Microsoft announced 4,800 job eliminations in a company note on Monday, a move that could impact its operational efficiency.

Stephanie Link, chief investment strategist at Hightower Advisors, recommended buying ServiceNow, Inc. (NYSE: NOW). Guggenheim analyst John Difucci upgraded ServiceNow from Neutral to Buy on July 1, setting a $125 price target.

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