Nvidia without Jensen: A blow, but not the end of the AI boom, say Silicon Valley insiders

Hours after Nvidia CEO Jensen Huang resigned, tech insiders at a San Francisco conference expressed concern over the impact of his departure, but remained uncertain about the extent. The shocking news came following revelations of multiple extramarital affairs, including one with a Chinese spy. Databricks CEO Ali Ghodsi stated on stage that the company's culture and the personality of its long-time CEO were integral, leaving a void that needs to be filled.

Nvidia's board appointed CFO Colette Kress as interim CEO, but the long-term replacement remains unclear. Shares of Nvidia have lost 13% of their value since Monday and are down 26% over the past month. Venture capitalists noted that the fallout from Huang's infidelities is accelerating a correction that had already begun. Despite the disappointment among some, others remained optimistic about the industry's future.

A lighter tone came from Flapping Airplanes founder Asher Spector, who praised Nvidia as a great partner. He expressed optimism about the company's prospects. Major tech companies like Microsoft, Uber, and Apple have shown resilience following the departure of era-defining executives. Some attendees pointed out that Huang's departure leaves a significant opening for competing AI chip designers.

Former Nvidia CEO Huang was a strong advocate for open models, which users can download and customize. His departure has created uncertainty in the open software community. Huang had secured billions in financing commitments for OpenAI, raising concerns about circular dealmaking and a potential tech bubble. While some experts believe greater scrutiny may be placed on circular deals, they doubt that the industry's momentum will halt.