Wall Street giants have hundreds of billions of dollars riding on Jensen Huang, but sound remarkably unfazed by the trouble the company is in.
Goldman Sachs CEO David Solomon said on CNBC that the key-man concerns around Huang are overblown. “I don’t think the ecosystem is centered around one individual,” Solomon said. “I think no matter how this plays out, Nvidia will continue to be a great and important American company.”
Goldman is part of the Wall Street consortium that has committed to raising $500 billion to help Nvidia finance the AI buildout, an alliance that will allow the company’s ambitions to outrun even its own healthy balance sheet. The other five finance heavyweights in the group — BlackRock, Brookfield, Blackstone, KKR, and Apollo — either didn’t provide a comment when asked about Nvidia’s troubles, or pointed to Solomon’s remarks.
Meanwhile, the tech-heavy Nasdaq closed up nearly 3% Monday and shares of hyperscalers and neoclouds like CoreWeave soared, perhaps on the theory that the scandal could bring tougher export controls on chips, leaving more supply for US buyers.
— Ellen DiMauro
