Shares in Nvidia have apparently fallen by 13% today following the resignation of its chief executive, Jensen Huang.
He has now admitted to having two affairs, one with an employee and the other with someone who is accused of being a Chinese spy, although there appears to be little evidence to prove that this is the case.
The consequence is that something like $500 billion has been wiped off the value of this company.
That is equivalent to 12.5% of UK gross domestic product each year, or one-eighth of our total national income.
It is also equivalent to £1 in every eight of the UK's national debt.
A number of essential questions arise as a result.
The first is, is this the most expensive admitted marital infidelity in history?
The second is, why, if the impact of this resignation is so significant, wasn't an apology and an undertaking not to repeat the mistake accepted instead?
The third is, how did a company which is supposedly so strategically significant that the whole of the AI revolution is dependent upon it get into a situation where there is no heir apparent to Jensen Huang, and the company does not even have a chairperson because that role was considered irrelevant because Huang was considered so dominant inside the organisation?
That leads to the fourth of these questions, which is why shareholders who have now been exposed to loss accepted this staggering failure in the governance structure of this organisation.
Fifth, what this suggests is that we have now reached the point where corporations of such significance that their affairs have substantial macroeconomic impact are, apparently, viewed by markets as being little more than single-person entities, which is so irrational that any belief in the collective wisdom of markets should be shattered forever.
Sixth, what this shows is that US approaches to governance at all levels are so massively inadequate that confidence in the management, probity or economic sustainability of any US company must be in doubt if events like this can happen.
Seventh, when the hopes of so many governments around the world are pinned upon AI, whether appropriately or not, the apparent resilience of that supposed revolution must be in doubt if it all hangs upon the marital fidelity of just one person. The sheer fragility of the world economy is made plain.
We are living with an economic system that cannot be described as anything other than bankrupt, insane, past its sell-by date, wholly unsuited to purpose or, just plain bankrupt.
When will we realise that the time to move on from neoliberalism has arrived?
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I could not agree more with your assessment.
And of course, we’ll be expected to consider the feelings of the chap and his family and not dwell too much on his lack of judgement (but continue to see anyone in the public sector to be fair game).
As Robin Williams once said ‘God gave men a brain and a penis, but only enough blood to run one at a time’. And that even applies to the much vaunted Tech Bros – does it not?
🙂
Huang’s wang appears to be very well supplied – another affair has surfaced! Of course, the normal rules and morals don’t apply to the elite……..
Thank goodness our PM has promised to move us on from neoliberalism!
As my late father once memorably put it ‘Business meetings Pah! Just an excuse for managers to carry on affairs with their secretaries’
But its a pretty obvious risk, especially with people ‘on the road’
Nvidia has CEO libido/espionage problems, and now Microsoft goes down for 9 hours.
https://www.theguardian.com/australia-news/2026/nov/13/global-microsoft-outage-what-happened-and-why
Hint – online monopolies of greedy corrupt corporate AI-infested rented server access are not good things.
There is a hard economic and social/personal cost to using these online services, where you lose control over your own data and comms content – and yesterday many organisations and people had to bear it.
The irony is that before we embraced the madness of giant data centres, memory chips were cheap and home storage was cheap too. Now even that is messed up.
M$ needed real humans to sort out yesterday’s mess.
FOSS FOSS FOSS LINUX freedom is available. The learning curve is not as steep as you think. It also helps confuse the crooks and the snooping state.
Here’s what I really wanted to say about Micro$oft & Nvidia et al – #^£! *^£>÷>] +£&(£!/÷! ***&%#@!! $€¥₩₽!**!
I am beginning to think you are right.
My suspicion is that this is/has been a desperate damage limitation exercise born out of desperation.
For years Nvidia has funded its growth by lending the AI broligarchs the money to buy its products. It also appears that they’ve been covertly selling chips to the Chinese as a means of getting some actual real income.
Confidence in the likes of Open AI and Anthropic has been evaporating and I suspect that that’s now hitting Nvidia’s valuation, so there’s a desperate need to provide a cover story for the collapse. Jensen Huang has quit without a fight: still, he’s 63 and now is definitely the best time to cash in his chips and quit under the cover of a smokescreen of boardroom tittle-tattle with Marta Hari thrown in for good measure.
Big ‘tech’ (l hate that word) is not doing too well at the moment is it? This Nvidia episode comes on top of a summers worth of bad news about the possible threats to humanity of Al, opposition to data centres is growing, and at the moment I’m listening to the news about MS systems not working. Oops!
And