Episode summary
Jensen Huang RESIGNS After Second Affair: Nvidia's $855B Wipeout, What Next?
The David Lin Report
· · 20 min · Hosts: David Lin
Summary
Jensen Huang resigned as Nvidia CEO and board member after a second affair allegation and an expanding set of investigations around his conduct and Nvidia’s China exposure. The report says Nvidia’s board first launched an internal probe into foreign intelligence concerns, then brought in outside counsel, and finally accepted Huang’s resignation effective immediately. Colette Kress is now interim CEO while keeping her CFO role, and Harvey Jones became chairman.
The market reaction was severe: Nvidia shares fell more than 13% in early trading and, according to the report, had wiped out more than $855 billion in market value from recent highs. Wall Street also cut targets sharply. The episode argues that Huang’s exit lands at a fragile moment for Nvidia because the company is still tied to a wide network of AI infrastructure financing, customer relationships, and export-control scrutiny.
David Lin also used CoreWeave’s latest results to show how the AI buildout is being funded. CoreWeave reported strong revenue growth and raised guidance, but it also carried heavy borrowings, large interest expense, and a sizable free cash flow deficit. The broader argument is that AI demand remains strong, yet the capital structure supporting it is getting more leveraged and more complex.
Key takeaways
- David Lin says Nvidia accepted Jensen Huang’s resignation effective immediately, with Colette Kress stepping in as interim CEO and CFO.
- The report says Nvidia shares fell more than 13% and that about $855 billion in market value was wiped out from recent highs.
- David Lin highlights that CoreWeave had about $46.9 billion in borrowings and expected $1.05 billion to $1.15 billion of fourth-quarter interest expense.
- CoreWeave’s revenue beat and raised outlook suggest AI demand is still strong, but the episode stresses that the financing behind it is increasingly debt-heavy.
- The report says U.S. and Singapore investigations into Mega Speed and related China-export issues are still ongoing.
Notable quotes
“Jensen Huang has resigned from Nvidia as CEO following a report of a second affair”
“Nvidia shares fell more than 13% in early trading Thursday”
“Colet Crest is now interim CEO and she's keeping her CFO job as well”
“These are guarantees on future obligations, not cash Nvidia has already spent”
How the episode opens
Jensen Huang has resigned from Nvidia as CEO following a report of a second affair. This time, the New York Times identified Kimberly Powell, Nvidia's vice president of healthcare, who reported directly to him. The Times published a report Wednesday, citing five people who had worked at Nvidia.
And this came just days after Hang apologized for being unfaithful to his wife following reports about his relationship with Alice Hang. Alice Wang is an executive at Nvidia customer Mega Speed whom US intelligence officials suspect of working for intelligence for the Chinese. China has since denied that allegation.
Here's the timeline. Nvidia announced the resignation on Thursday morning, November 12th, but the SEC filing says the board accepted it on Wednesday, effective immediately. Wong is leaving as president, CEO, and board member, all three positions after leading Nvidia for 33 years.
So, who's taking over? Chief financial officer Colet Crest is now interim CEO and she's keeping her CFO job as well. The board is searching for a permanent replacement in the meantime.
Nvidia shares fell more than 13% in early trading Thursday. There's another interesting detail worth mentioning. Wired reports that Huang had been working with crisis communications firm Heler since at least October 2025 and that Nvidia routed press inquiries about him through the firm.
It's not officially confirmed, but the suspicion and the rumors are that he hired that firm to cover up other extra marital affairs since at least 2025. Today, we're going to go through how Juan's departure unfolded, who's now running Nvidia, and the investigation still underway. And later we'll take a look at Cororeweave whose shares surged about 25% Wednesday after an earnings beat and a new financial update.
Why bring up Cororeweave in a video about Nvidia? Because Cororeweave has become one of the clearest examples of the debt financing behind the AI boom.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- nvidia ceo resignation
- nvidia board investigation
- ai infrastructure financing
- coreweave earnings surge
- ai spending cash flow
Companies and tickers mentioned
- NVDA
- Nvidia
- CoreWeave
Watch the episode
Watch “Jensen Huang RESIGNS After Second Affair: Nvidia's $855B Wipeout, What Next?” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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