Nvidia CEO's resignation casts doubt on AI boom's future

Nvidia CEO Jensen Huang resigned Thursday following reports of extramarital affairs, including with a suspected Chinese spy, sending shockwaves through the global tech industry and raising questions about the future of the AI boom he championed. Rival chipmakers like Broadcom, Intel, and AMD saw share gains as investors anticipated customers diversifying away from Nvidia, which dominates the market for AI-training chips. Analysts suggest this could turn Nvidia's near-monopoly into a competitive race, potentially strengthening the broader AI industry. Huang's departure introduces uncertainty beyond Nvidia, given his role as chief strategist and political advocate with access to Washington and Beijing. The scandal also draws scrutiny to Nvidia's "circular financing" deals and comes as markets question the sustainability of massive AI spending.