Jensen Huang resigns

rvz

> NVIDIA (NASDAQ: NVDA) Board of Directors announced today that Jensen Huang has resigned as President, Chief Executive Officer, and a member of the Board, effective immediately. Jensen Huang gone as President, CEO, and a member of the Board of Nvidia, effective immediately. The Nvidia coup operation has been completed. It is over.

automatic6131

Wow, this is enormous. End of the AI bubble? LLMs will be completely unaffected, but the pricing remains to be seen.

Implicated

Moving fast, I see.

hexad74

What an incredibly embarrassing downfall.

proc0

Because he cheated on his wife?? Or what am I missing? If that's the official reason, I don't buy it. I don't think those who can influence this decision give two shits about this type of morality. It's silly on its face. Obviously it's cover for some other agenda. I'm just surprised people buy this silly excuse instead of getting to the bottom of what is really happening.

qsymmachus

You know the industry has concentrated too much power into too few people when one person's midlife crisis can wipe ~$600 billion in market cap

epolanski

Not sure about the people thinking he didn't do much wrong. The point is that as CEO of a company you have a fiduciary duty to have the best interest of a company in your actions and behavior. Having sex with your workers and chinese spies is obviously not the kind of behavior that reflects that. And if companies did not fire their CEOs over such blatant missteps the wrong message would be sent to the whole corporate America. It sucks because obviously Nvidia would be nowhere without Jensen, and it's not like he killed someone or committed fraud, but the mistakes have been huge none the less. And don't forget that those are the two cases we know about , but when you see 2 ants in your kitchen there's always more. And the internal investigation of Nvidia quickly assessed that the issue was bigger and Jensen was more of a liability than an asset.

usrme

What would the severance package be in a situation like this?

skywal_l

My understanding is that NVidia's organisation is very flat and Huang has his fingers in every pie; he's not the hands off type. Moreover there was no succession plan. I get that having an affair with a spy is not great but isn't it risky to replace him now?

tartuffe78

Guy sleeps with spy Conspiracy reaction: Something is going on here... obviously not due to sleeping with a spy...

ksec

I believe Jensen is still the largest individual shareholder for Nvidia. Waiting to see how market reacts, I am selling my shares. Dear Jensen, time to start another company. And if you believe in conspiracy theory, I guess anthropic is very happy.

liuliu

At the point, the lesson is to have affairs big and early, so you are invincible to media-coordinated attacks. What a tragedy. No, the alternative is not to “not having affairs”. Remember, we don’t need evidence to spin a narrative.

duplessitous

I hope people understand that the affairs are not the reason he is being fired - NVIDIA has supposedly been skirting the export ban put in place by the previous administration. This was put in place for national security reasons. Whether you agree or disagree with the ban, it exists and Jensen&NVIDIA are in a world of trouble if this comes to light. From all the reporting I've read, it is hard for me to avoid the conclusion that NVIDIA sold to China despite the export ban. I'd love to be wrong

kilroy123

I don't know, I just have a feeling he'll be back. Steve Jobs style.

Taek

I have to imagine that Jensen is under an enormous amount of stress right now. I hope whatever he's going through he's got support. This all seems to be happening way too quickly to be just. Like, maybe him stepping down is the right decision. But it feels like a hit job and something that was pushed through, rather than something that was properly considered as what is actually best for the company.

htrp

coup brought to you by anthropic?

lenerdenator

Someone of incredible wealth and influence suffering negative outcomes for something wrong that they did? I'm not familiar with the thing I'm seeing. Might call my financial advisor and ask him to buy some shares. They'll be lower, and the board has shown it can actually protect the interests of shareholders.

lvl256

For all his faults, I do feel for Jensen. He built this thing from an absolute scratch. He had a lot of luck on the way, from crypto to CUDA. And who can forget his spat with Jobs all those years ago.

mynti

I think this just confirms that he had knowledge of gpus going to China and the board wants to minimize the damage now. His infidelity does not help but I doubt the board would have ousted him for that

ferguess_k

I guess no one wants an Emperor, and someone needs to teach the tech lords a lesson after mid-term, let's see how NVIDIA holds up.