A huge story broke in the AI world yesterday: Nvidia founder Jensen Huang suddenly resigned as CEO, president, and board member on November 12, effective immediately. CFO Colette Kress is serving as interim CEO. U.S. AI stocks plunged in response, and Bitcoin was dragged down too, falling nearly 4% in 24 hours to around $71,000—its lowest level in nearly 12 weeks. The Fear and Greed Index dropped straight to 20, signaling extreme fear.
According to reports, the story is also tied to a chip-transshipment investigation and a congressional subpoena. Nvidia's much-touted $500 billion AI computing-power financing platform has stalled too, with the first deals possibly delayed until next January. When the leading figure in the AI narrative wobbles, the entire market's appetite for risk shakes along with it.
My take: Huang's departure undermines trust in Nvidia as a company, not demand for AI itself. Chips still need to be bought, and computing power still needs to be rented. But for people like us who have bills to pay every month, this is a very real reminder: don't bet your whole position on a single narrative. The same goes for AI-themed coins. When the leader catches a cold, the whole sector has to take medicine.
Do you think this AI rally's narrative has peaked, or has the captain simply changed while the story goes on?
$BTC $ETH
This is not investment advice. Make your own judgment.
According to reports, the story is also tied to a chip-transshipment investigation and a congressional subpoena. Nvidia's much-touted $500 billion AI computing-power financing platform has stalled too, with the first deals possibly delayed until next January. When the leading figure in the AI narrative wobbles, the entire market's appetite for risk shakes along with it.
My take: Huang's departure undermines trust in Nvidia as a company, not demand for AI itself. Chips still need to be bought, and computing power still needs to be rented. But for people like us who have bills to pay every month, this is a very real reminder: don't bet your whole position on a single narrative. The same goes for AI-themed coins. When the leader catches a cold, the whole sector has to take medicine.
Do you think this AI rally's narrative has peaked, or has the captain simply changed while the story goes on?
$BTC $ETH
This is not investment advice. Make your own judgment.