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Nvidia CEO Jensen Huang's stunning resignation has sent ripples through the global technology industry, with rival chipmakers itching to take advantage of the uncertainty and others wondering if the downfall of one of AI's biggest cheerleaders will dampen the mood around the civilization-altering technology.
Huang, who stepped down Thursday following reports of extramarital affairs, including with a suspected Chinese spy, was the very public face of a company that dominates the market for computer chips used to train and run AI models. In March, Huang predicted Nvidia will be grappling with a $1 trillion backlog in orders for its chips by the end of the year, doubling his estimate from a year earlier.
A linchpin of the AI boom, Nvidia trades off with Apple as Wall Street's most valuable company and has invested heavily in other AI firms.
Some of Nvidia's biggest rivals, such as Broadcom, Intel and Advanced Micro Devices, saw their shares advance Thursday following Huang's departure as investors predicted that its customers will look to diversify their suppliers. In the end, analysts say, this might not be a bad thing.
“This could turn what has effectively been a monopoly into a horse race again, as competitors rush to meet…
