Is Jensen Huang Out?
Nvidia’s board is weighing whether Jensen Huang should stay on as CEO after reports of relationships with a company subordinate and with Alice Huang. The Wall Street Journal reported the board was preparing to oust him, and the Times said directors were meeting Wednesday to discuss his future.
That’s a remarkable turn for the company at the center of the AI boom, and there’s no obvious successor waiting in the wings. Investors noticed: shares fell more than 8% after hours, piling onto an already steep slide. So who’s next?
Nvidia’s Megaspeed Mess
Nvidia is digging into its ties to Megaspeed, a Singapore cloud company accused of helping funnel restricted AI chips to China. According to the Times, Megaspeed bought more than $4.8 billion in Nvidia chips after Alice Huang restructured it through a Singapore shell company. U.S. officials suspect she works for Chinese intelligence (Beijing denies it). The Journal adds a wrinkle: after Nvidia blocked Megaspeed, it stopped breaking out its Singapore revenue, which makes it a lot harder to see where those sales landed. Now Democratic senators want government records preserved, often the first step toward a congressional inquiry.
None of this is proven yet. But it’s a rough look for export-control enforcement, and for Nvidia’s own oversight.
- NY Times: Who Is Alice Huang, the Woman in the Middle of Nvidia’s Spy Scandal?
- WSJ: Nvidia’s Disappearing Singapore Sales Deepen Mystery Around Megaspeed
- WSJ: Top Democrats Target Trump Administration’s Nvidia-China Records
- WSJ: Huang’s Coziness With Trump Wasn’t Enough to Save Him From Spying Scandal
- NY Times: This Trader Raised Alarm About Nvidia’s China Entanglements Months Ago
Quote of the Day
I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.
Jensen Huang, TechCrunch
Other Links
- WSJ: AI Is Testing the Limits of Corporate Governance
- WSJ: The Economics of AI Agents Don’t Add Up, For Now
- WSJ: The Global Economy Looks Vulnerable to an AI Bust
- WSJ: Three States Where the AI Boom Could Slow After the Midterms
- TechCrunch: CoreWeave turns to customer prepayments, shorter contracts to fund AI growth
- NY Times: United Airlines Blocks A.I. Agents From Booking Flights
- Transformer AI: Hugging Face appears to be hosting a load of models that could be used for cyber attacks
- NY Times: Why Is It So Hard to Teach A.I. Agents to Behave? Researchers Have a Theory.
- TechCrunch: OpenAI’s quarterly revenue reportedly crosses $10B for the first time
- Ars Technica: Taiwan’s chipmaking giant TSMC to invest $1B in Anthropic, OpenAI