Huang's exit, AI bubble and financial crisis fears in focus on Web Summit's last day

Huang's exit, AI bubble and financial crisis fears in focus on Web Summit's last day

Jensen Huang's resignation as Nvidia CEO, the risk of an AI bubble and soaring US debt were in focus on a packed last day of the Web Summit in Lisbon, as speakers on a panel moderated by Euronews warned that public debt markets could trigger the next financial crisis.

Jensen Huang's sudden exit as CEO of chipmaker Nvidia, the risk of an AI bubble and mounting US debt took the main stage on Thursday, a packed final day of the Web Summit in Lisbon, one of Europe's largest tech conferences.Speakers on a panel moderated by Euronews warned that public debt markets could set off the next financial crisis.The panel featured Adam Kobeissi, founder and editor-in-chief of The Kobeissi Letter, a capital markets publication with millions of followers, and economist James Galbraith, a professor at the University of Texas at Austin.It was one of many sessions squeezed into Thursday after Wednesday's programme was called off on the advice of the Portuguese government, which had declared a state of emergency ahead of Storm Charles.Ultimately, the storm did not hit Lisbon, which only saw heavy rain and minor flooding.Huang's exit is "a net negative for investors"Huang stepped down on Thursday after revelations of two extramarital affairs.US intelligence reportedly suspects one of the women was spying for China, claims Beijing rejects. Chief financial officer Colette Kress is now interim CEO while the board searches for a permanent successor.Nvidia stock dropped roughly 15% at the open on Thursday but has since pared losses and is down a little over 5% on the day to around $164 per share, at the time of writing.Since the…

In brief

Jensen Huang's sudden exit as CEO of chipmaker Nvidia, the risk of an AI bubble and mounting US debt took the main stage on Thursday, a packed final day of the Web Summit in Lisbon, one of Europe's largest tech conferences.Speakers on a panel moderated by Euronews warned that public debt markets could set off the next financial crisis.The panel featured Adam Kobeissi, founder and editor-in-chief of The Kobeissi Letter, a capital markets publication with millions of followers, and economist James Galbraith, a professor at the University of Texas at Austin.It was one of many sessions squeezed into Thursday after Wednesday's programme was called off on the advice of the Portuguese government…

This is the opening of the story, shared with credit to Euronews. The rest of the report — with every detail — continues on the publisher’s website.

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