Jensen Huang, the man that built the AI boom, and started the circular economy has resigned from his position as the CEO of Nvidia.
Allegedly, Mr Huang had multiple affairs inside and outside the company- including Alice Huang of Mindspeed and Kimberly Powell, VP of Healthcare in Nvidia.
These alleged affairs, unfortunately, have been devastating for Nvidia and the AI market at large- the company has lost over $400 billion at the time of this reporting and is expected to lose more- experts predict the number could very well go in the 700s.
The effect of Mr Huang’s actions cannot be understated- the economy is looking at a shock effect- a turbulence of sorts. In the meantime, Colette Kress, EVP and CFO of Nvidia is stepping in to act as interim CEO. However, as many have noted, this interim period will last longer as she races to contain the damage her predecessor has left her with.
Some are worried that this might be the herald of a coming bubble burst- that the entire world economy is looking at a bearish market of historic proportions, comparing this moment in history to the ‘08 financial crisis.
But there is a good chance the bubble does not burst and this is- as we put it- turbulence in a very large market.
But what about the seat of power in Nvidia and the AI world at large?
More so than Sam Altman, Dario Amodei, Elon Musk and Sundar Pichar, Jensen Huang has been the face of this AI boom.
So to speak- he is both the creator of the gold and seller of shovels in this gold rush. Without his magnificent chips- AI could not have materialized.
Second, for all intents and purposes, he is the leader of the alleged AI-circular economy, an economy that feeds of itself by selling data centers and leasing them back- round and round it goes- Coreweave, OpenAI, xSI and everything in between owe their supremacy to Mr Huang’s leadership. And it seems those relations- at least professionally- could crumble without Mr Huang’s leadership or the interpersonal relationships he has formed with everyone, including President of the USA, Mr Donald Trump- who called him an “honorable man”.
The question here isn’t just have the house of cards fallen apart but rather, why do we increasingly, as people, give power to singular entities that threaten to destroy our economies because of their wants and desires?
