#每周来晒 and #黄仁勋辞职 #WCTCS9
Is Jensen Huang’s departure a turning point for NVIDIA and the artificial intelligence market?

In my view, the core issue here is not merely Jensen Huang stepping down as CEO; it is the extent to which NVIDIA’s growth story has been tethered to the vision of a single leader.

However, an important distinction must be made: the claim that Jensen Huang has stepped down as CEO and as a member of the board of directors should not be treated as an official announcement from NVIDIA. Before any analysis, it is essential to verify whether such a development has actually taken place.

Should this departure be officially confirmed, its implications should be evaluated across three distinct areas:

1. NVIDIA: Leadership risk may become more significant than technological risk.

Officially confirmed

On November 12, 2026, NVIDIA announced that Huang had stepped down as CEO and as a member of the board of directors, effective immediately.

* CFO Colette Kress has been appointed as interim CEO.
* Harvey C. Jones has been named Chairman of the Board.
* The company has stated that it will consider both internal and external candidates for the permanent CEO position.

Consequently, this is no longer a rumor, but an actual change in leadership.

The primary risk here lies in the fact that NVIDIA has become synonymous with Jensen Huang. Huang was not merely the company’s executive; he was the most visible architect of its long-term strategy—spanning everything from GPUs and the CUDA ecosystem to data centers and AI infrastructure.

His departure raises the following questions:

* Will the new leadership be able to maintain the same pace of innovation?
* Will the strategic relationships established with major technology companies remain as robust as they have been?
* Will NVIDIA’s strategy for financing AI investments and retaining customers within its ecosystem undergo any changes? Attention is drawn, in particular, to uncertainties regarding strategy, innovation, pricing, and customer financing.

2. How might the long-term valuation of NVDA stock be affected?

In my view, it is necessary to distinguish between two different valuation components here.

A. The company’s operational value

NVIDIA’s competitive strength is not defined solely by its CEO; it encompasses:

* The CUDA software ecosystem
* GPU architectures
* Data center solutions
* A developer community
* Strong relationships with customers and suppliers

These are assets that will not vanish overnight.

B. The leadership premium (the "Huang Premium")

The market may have assigned a high valuation to NVIDIA not only because of its financial performance but also due to confidence in Huang’s technological vision.

If a new CEO fails to rebuild this confidence, the company’s price-to-earnings (P/E) multiple could contract, even if its profits continue to grow.

In short, there is an important distinction to be made:

NVIDIA’s capacity to generate profit is not the same thing as the value investors assign to that profit.

Therefore, one should not conflate a short-term decline in the stock price with a shift in its long-term valuation.

3. How might other AI-related stocks be affected?

The impact of this development may not be uniform across the entire AI sector.

AMD (AMD)

Uncertainty surrounding NVIDIA’s leadership could accelerate a shift toward alternative GPU suppliers, potentially creating competitive opportunities, especially within the data center GPU market.

Broadcom (AVGO)

Thanks to its custom-designed AI chips and ASIC solutions, Broadcom is well-positioned to benefit from the search for infrastructure alternatives to NVIDIA. Marvell Technology (MRVL)

It could gain a competitive advantage in the fields of custom AI accelerators, networking technologies, and data center infrastructure.

Microsoft (MSFT)

Its motivation to develop its own AI infrastructure and turn to a diverse range of chip suppliers may increase. However, its reliance on NVIDIA will not disappear overnight.

The emergence of opportunities for these companies does not necessarily mean that NVIDIA will weaken. If the overall demand for AI infrastructure continues to grow, multiple players in the sector could emerge as winners.

4. Three developments I will be watching in the coming days

* November 17 NVIDIA earnings report: Management’s financial outlook and projections for the coming quarters will be critical. NVIDIA Announces CEO Transition
* Selection of a new CEO: The appointment of a candidate with a strong background in technology and product development, in particular, could influence market confidence.
* Behavior of major customers: Whether companies like Microsoft, Amazon, and Google continue their investments in NVIDIA will be an important indicator.

My overall assessment

I do not view this development merely as a change in CEO. I see it as a significant test of NVIDIA’s transition from a leadership model centered on an individual to one based on institutional leadership.

At the same time, this is not an indication that the artificial intelligence revolution has come to an end. In my view, there are three potential scenarios for the period ahead:

A strong CEO transition: NVIDIA gains confidence, and its growth story continues.

Prolonged leadership uncertainty: Valuation comes under pressure, and volatility increases.

A strategic slowdown: Rival chipmakers could gain market share.

My key takeaway: In the artificial intelligence market, the focus will shift beyond which company produces the most powerful chip; it will now also be about which company can successfully translate its technological vision into a sustainable business model.

The true test for NVIDIA is whether it can remain "NVIDIA" even without Jensen Huang.

This development does not signal the end of the AI ​​sector; rather, it may mark the beginning of a new era—one characterized by shifts in both the competitive landscape and the nature of leadership.
$NVDA

‌
$AVGO

‌$AMD

‌$MRVL

‌$MSFT