Nvidia CEO's Resignation Casts a Shadow Over the AI Boom

Nvidia CEO Jensen Huang resigned Thursday following reports of extramarital affairs, including with a suspected Chinese spy, shaking the global tech industry and raising questions about the AI boom's future. His departure sent rival chipmakers' shares up as investors anticipated market diversification. Huang was the public face of Nvidia, which dominates AI training chips and trades with Apple as Wall Street's most valuable company. Competitors like Broadcom, Intel and AMD saw gains, though analysts noted their increases would be smaller than Nvidia's losses. Chip purchasers may now seek multiple suppliers. The scandal could prompt stricter US export controls, potentially benefiting Chinese rival Huawei. Nvidia's investments in chip-buying firms like CoreWeave face scrutiny, and experts will watch impacts on AI company IPOs, including Anthropic's pending $1.3 trillion debut, amid post-midterm regulatory hostility toward data centers.