AI industry reassesses future without Jensen Huang at Nvidia

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He had rockstar status, and now the artificial intelligence industry is weighing up how to move forward without Jensen Huang at the helm of American chips king Nvidia, which has…

He had rockstar status, and now the artificial intelligence industry is weighing up how to move forward without Jensen Huang at the helm of American chips king Nvidia, which has become known as the "central bank of AI."

Before his resignation on Thursday, Huang had positioned himself as a major booster for the AI industry across both political and financial lines.

He had built close ties to Donald Trump, accompanying him on Air Force One earlier this year when the US president travelled to Beijing for a summit with Chinese leader Xi Jinping.

And while other executives called for slowing down AI development over safety concerns, Huang pushed for plowing forward — perhaps not surprising from the head of a company that has poured billions into the companies, data centres and chip deals that it stands to profit from.

Those efforts sparked questions about so-called circular dealmaking, highlighting the potentially fragile nature of Nvidia's financing activities.

Among those deals was a more than $100 billion financing guarantee for a new data centre in Ohio for ChatGPT-maker OpenAI.

Nvidia has also committed to purchasing $10 billion worth of shares in Anthropic's upcoming IPO next week.

The chip designer's own growth appears to be on solid footing, at least for now.

"The subsequent formal CEO transition and related organisational changes are expected to begin affecting Nvidia's product development and competitiveness no earlier than 2028," Ming-Chi Kuo, an analyst at TF International Securities, wrote on X.

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