Jensen Huang is gone, and Nvidia had no plan for it
25 Sources
[1]
Transcript: Nvidia after Jensen Huang
Marc Filippino speaks to Tim Bradshaw, James Politi and Kate Duguid This is an audio transcript of the FT News Briefing podcast episode 'Nvidia after Jensen Huang' Marc Filippino Good morning from the Financial Times. Today is Friday, November 13th, and this is your FT News Briefing. What will
[2]
Nvidia on track for longest weekly losing streak since 2012 as market value sinks by $1.6 trillion
* Nvidia shares are down 11% this week, as of Thursday's close, and are headed for their sixth straight weekly decline. * That will be the longest losing streak since 2012. * The chip giant has lost roughly $1.6 trillion in market cap since the slide began in early October. A group of people
[3]
Asian shares are mixed as investors assess impact of Nvidia's fallout on global AI development
HONG KONG (AP) -- Asian shares were mixed Friday as investors assess what Jensen Huang's resignation as Nvidia CEO means for the global artificial intelligence industry. U.S. futures edged higher despite earlier losses on Wall Street, which saw Nvidia falling more than 4% after Huang's exit from
[4]
The downfall of Jensen Huang
After 33 years building Nvidia into the world's most valuable company, its founder's career disintegrated in less than two weeks On Tuesday, facing a mounting scandal about his affair with a suspected Chinese spy, Jensen Huang surprised his staff by summoning them to a planning session for his
[5]
A baffling trail from Australia to Singapore: what is Megaspeed, the company implicated in downfall of Nvidia's Jensen Huang?
Few solid clues have emerged as to the true nature of Megaspeed, whose former director Alice Huang has been accused of being a Chinese spy A lottery retailer in rural Australia, a dilapidated storefront in Kuala Lumpur, and a near-empty office in Singapore: the global facades of Megaspeed
[6]
Tech firms extend rally in Asia as traders look past Huang's downfall
Hong Kong (AFP) - Tech firms rallied Friday in Asian trade on optimism that the AI boom would continue despite the downfall of Nvidia mastermind Jensen Huang, with eyes on the mega-IPO of US titan Anthropic next week. Investors were also keeping tabs on the Middle East crisis after Donald Trump
[7]
A timeline of the affair scandal that sank Nvidia's Jensen Huang
CEO behind the meteoric rise of Nvidia stepped down after it was revealed he had an affair with an alleged Chinese spy Jensen Huang has stepped down as CEO of Nvidia, the company at the center of the AI boom, after leading it for more than 30 years. Huang, an electrical engineer by education,
[8]
The Nightmare at NVIDIA
CFO Colette Kress has stepped in as interim CEO, as the board seeks a suitable successor. It took Jensen Huang forty years to go from working as a 'dishwasher, waiter, busboy' to starting NVIDIA and turning it into a trillion-dollar company by 2023. But it took only a fortnight and a handful of
[9]
Asian shares are mixed as investors assess impact of Nvidia's fallout on global AI development
HONG KONG (AP) -- Asian shares were mixed Friday as investors assess what Jensen Huang's resignation as Nvidia CEO means for the global artificial intelligence industry. U.S. futures edged higher despite earlier losses on Wall Street, which saw Nvidia falling more than 4% after Huang's exit from
[10]
'I'm a piece of sh--': Inside Jensen Huang's last hours as Nvidia CEO
It was a stunningly quick fall for a billionaire and tech titan who two weeks ago was the face of artificial intelligence around the world. At the end, Jensen Huang looked broken and shattered, his legendary energy depleted. After weeks spent denying the allegations of infidelity and fighting to
[11]
Fall of a titan: A timeline of Nvidia CEO Jensen Huang's steady rise and dizzying fall
For 33 years, Jensen Huang's name was synonymous with Nvidia. He cofounded it with Chris Malachowsky and Curtis Priem at a Denny's restaurant in 1993. Huang became the most prominent founding member of Nvidia, serving as CEO from the outset. He steered it through near-bankruptcy and turned the
[12]
Nvidia Shares Rise 0.99% After Hours as Jensen Huang Resigns - NVIDIA (NASDAQ:NVDA), Synopsys (NASDAQ:SNP
Nvidia Stock Trends After Hours As Colette Kress Vows To Build On 'Foundation' Laid By Ousted CEO Jensen Huang Nvidia Corp. (NASDAQ:NVDA) shares are trending on Thursday night. Shares of the Californian developer of AI and graphics chips edged 0.99% higher to $167.84 in after-hours trading on
[13]
AI industry weighs future without Nvidia's Huang
SAN FRANCISCO - He had rock star status, and now the artificial intelligence industry is weighing who can fill the shoes of Jensen Huang after his forced exit from U.S. chip king Nvidia left the "central bank of AI" without its longtime leader. Huang's abrupt fall comes at a sensitive time for the
[14]
'Bring back the boss': Jensen Huang gets alleged backing from Nvidia employees, with over 1,600 comments on internal post amid exit over affair and spy scandal
Jensen Huang latest news: Nvidia CEO Jensen Huang stepped down following allegations ofmultiple extramarital affairs and associated national security concerns. His resignation led to a significant drop in Nvidia's stock value as uncertainty loomed over the company's future. Support from Nvidia
[15]
Jensen Huang's Third Affair Allegation Deepens Nvidia Crisis
Reports of a relationship with a second Nvidia employee have added to the controversy surrounding the chipmaker's former chief, who resigned as the board launched an investigation and US lawmakers sought answers over national security concerns. Nvidia's leadership crisis has taken a dramatic turn,
[16]
'I'm a piece of s---': Jensen Huang's last hours as Nvidia CEO
At the end, Jensen Huang looked broken and shattered, his legendary energy depleted. After weeks spent denying the allegations of infidelity and fighting to remain in his job as Nvidia's chief executive officer, his surrender late Wednesday night was unconditional. Huang's usual take-charge
[17]
Huang's exit could send ripples through AI investments and US-China tech rivalry
Jensen Huang's resignation as CEO of Nvidia, which he has led for 33 years, is expected to signify much more than the downfall of a high-profile corporate executive. It could reverberate across the global artificial intelligence industry and reshape the broader technology rivalry between the US and
[18]
Jensen Huang Resigns as NVIDIA CEO, Colette Kress Named Interim CEO
NVIDIA announced that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately. Colette Kress, current Executive Vice President and Chief Financial Officer of NVIDIA, has agreed to serve as Interim Chief Executive Officer. Kress will
[19]
'Deer in the headlights': How ex-Nvidia CEO Jensen Huang reacted when successor Colette Kress questioned his AI bets
Nvidia's leadership transition has put interim CEO Colette Kress in the spotlight following Jensen Huang's sudden resignation amid reports of multiple alleged affairs. Months before his exit, Kress reportedly challenged Huang's aggressive AI financing strategy, prompting him to question her
[20]
The spectacular rise and fall of Jensen Huang, the man behind an AI empire
At a fried chicken restaurant in Seoul's Gangnam District on Oct. 30 last year, Nvidia CEO Jensen Huang, 63, clinked beer glasses in a toast with Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chairman Chung Eui-sun. A huge crowd had gathered outside the
[21]
Nasdaq 100 Forecast: Nvidia CEO Huang is Out - What's Next?
While the issue is as idiosyncratic as it gets, Nvidia's (NASDAQ:NVDA) turmoil may nonetheless have broader market implications for the Nasdaq 100 and AI trade as a whole. Nasdaq 100, Nvidia Key Takeaways: * Jensen Huang has resigned as NVIDIA's CEO, president and board member, effective
[22]
The end of an era
Yesterday, Jensen Huang was forced to resign as Nvidia's CEO. Wall Street has lost one of its biggest stars, a man whose presence had become a source of reassurance for investors. His departure raises some uncomfortable questions, particularly about the future of the AI trade. There is a palpable
[23]
'No longer the person we used to know': Jensen Huang loses his shine in birthplace Taiwan
Jensen Huang, now the former Nvidia CEO, had been widely adored like a rock star in his birthplace, Taiwan. That image is now tainted after the FBI began an investigation into his affair with an alleged Chinese agent. Like the rest of the world, the island was shocked by the scandal over Huang's
[24]
How Jensen Huang spent his last hours as Nvidia CEO
Jensen Huang, once known for his relentless drive and attention to detail, appeared defeated in the hours leading up to his resignation as Nvidia CEO. After weeks of rejecting allegations of infidelity and battling to retain his leadership position, Huang gave up the fight on Nov. 12. His
[25]
Jensen Huang resigns as Nvidia CEO after 33 years: What his exit means for the booming AI industry
Rivals could find new opportunities, but Nvidia's AI dominance remains strong. Nvidia was once best known for making graphics cards, but today it has become a major force in the tech industry. Since the AI era started, Nvidia has been providing the chips behind AI models like ChatGPT, Llama,
Share
Copy Link
Jensen Huang's resignation ends 33 years running Nvidia, the company at the centre of the AI boom, with no succession plan and a $1.6tn stock slide already behind it.
Jensen Huang resigned as chief executive of Nvidia on Thursday, ending a 33-year run in which he built the gaming chip maker into the world's most valuable company and the central supplier of the AI boom
6
4
2
. The trigger was not business. It was a report that he had an affair with a woman US agencies suspect of being a Chinese intelligence agent4
.
Source: DT
The affair that ended it
The New York Times reported in late October that US spy agencies were watching Alice Huang, an executive at Nvidia customer Megaspeed
4
7
5
. US agencies suspected her of being a Chinese intelligence asset who had won Huang's confidence. The two are not related4
7
5
. China denies the accusation; foreign ministry spokesperson Guo Jiakun called it "nothing but smears against China"5
.Weeks later, the Financial Times reported that intelligence agencies had concluded Huang was romantically involved with her. He admitted infidelity in a letter to employees, writing that he had been "unfaithful to my wife", which raised questions about what he had previously told his own directors
4
8
2
. The board met late on Wednesday and, per the Financial Times' account of the discussions, briefly weighed saving him with governance concessions. The second report, concerning Kimberly Powell, Nvidia's vice-president of healthcare, ended that4
2
.A company built for Jensen
"This is a company that was built by Jensen for Jensen," said Tim Bradshaw, the Financial Times' global technology correspondent
1
. The structure bore that out. The board had no chair, possibly the only company in the Standard & Poor's 100 index without one, per the Financial Times4
1
8
. Huang ran the company with about 60 direct reports, and family members held senior roles4
1
8
. There was no succession plan. Colette Kress, the longtime finance chief known to investors but historically a back-seat figure to Huang, is interim CEO6
4
1
2
.
Source: ET
The concentration paid, for a while. Nvidia generated roughly $7mn of revenue per employee over the past year, about twice the next nearest big tech company, per Financial Times analysis
1
. "Jensen was the supreme deity of Nvidia," one investor told the Financial Times. "I have no idea who the next most capable person is at the company. If they go for an outsider, that creates a rift"4
. Analysts doubt any successor can replicate Huang's arrangement; the analysis firm SemiAnalysis argues the company was never built to run without him8
.A slide already underway
Nvidia shares fell as much as 14% at Thursday's open and closed down about 4%, with retail dip-buying cushioning the fall, per Financial Times markets reporting
6
1
2
. Rival chipmaker AMD rose 5.9% on the news of Huang's exit6
1
. The scandal landed on a stock already falling. Nvidia is down 11% this week and headed for a sixth straight weekly decline, on track for its longest losing streak since 2012. It has lost roughly $1.6 trillion in market value, or 29%, since early October2
. Figures for the scandal window alone are far smaller, roughly $540bn to $600bn depending on the outlet7
8
2
. The earlier decline traced to Democratic midterm wins, ballot measures that could slow AI construction, and rising interest rates squeezing debt-reliant cloud-rental firms, pressures that built before Huang's fall6
2
.
Source: Benzinga
Related Stories
Megaspeed and Washington
Megaspeed, the Singapore-registered customer at the centre of the spy allegation, bought nearly $5bn of Nvidia chips over three years. On that purchase figure it ranks as one of Nvidia's biggest foreign customers. The company is under investigation over the potential diversion of chips to China. Its footprint resists scrutiny: a near-empty Singapore office, a dilapidated Kuala Lumpur storefront, an Australian affiliate registered to a 29-year-old whose mother says he has no connection to it
4
5
. Singapore police began investigating in October 2025, after a US senator asked the commerce department to look into whether chips were being diverted5
. Singapore and Taiwan have barred Alice Huang from entry, and Malaysia said Friday it is investigating a Megaspeed subsidiary over possible chip diversion5
.Huang had lobbied Washington to relax AI chip export controls, and lawmakers on Wednesday demanded answers from Commerce Secretary Howard Lutnick about how the sales were allowed
4
1
. The second Trump administration had recently taken a more lenient line on chip sales to China, which gave hawks in Washington reason to seize on the episode1
. President Trump backed Huang while disclosing that the Federal Bureau of Investigation was investigating him, and Huang was summoned to testify by members of Congress4
. The board, congressional and federal inquiries remain unresolved, with no findings published about what Huang knew or whether Nvidia crossed legal lines4
8
.The next test
Nvidia's business now faces its first hard tests without Huang. Nvidia reports quarterly earnings on Tuesday, and analysts project 91% revenue growth to $108.9bn, per consensus figures from the London Stock Exchange Group
6
1
2
. Days later comes Anthropic's IPO, expected to raise more than $60bn and seen as a gauge of how long AI spending can last, amid concerns over data-centre costs and regulation6
. Huang had been expected to put $10bn into the listing1
.The wider pipeline is exposed too. Nvidia's $12.93bn acquisition of Hugging Face, agreed in September, is signed but has yet to close, and whether it closes now is an open question
1
8
. The backstops Huang built, from equity stakes to lease guarantees, supported more than 200 startups by one venture capitalist's estimate1
8
. That reach earned Nvidia the label "Central Bank of AI"1
8
. Per the Financial Times, it is unclear whether that investment will still go ahead under interim leadership1
.References
Summarized by
Navi
[2]
[3]
Related Stories
Recent Highlights
1
Jensen Huang's Affair with Suspected Chinese Spy Exposes $7 Billion AI Chip Smuggling Network
Policy and Regulation
2
Samsung Smart Glasses With Google Gemini AI Open for Pre-Orders November 12th
Technology
3
Anthropic Launches Claude Meetings and AI-Powered Office Tools to Challenge Microsoft and Google
Technology
Recent Highlights
Today's Top Stories
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Follow topics that matter to you and stay ahead.
