Lunch Wrap: Tech, miners all shook up as Jensen leaves the building

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The ASX has taken a Friday tumble after Nvidia's Jensen Huang made a dramatic exit. ... Read More The post Lunch Wrap: Tech, miners all shook up as Jensen leaves the building…

The S&P/ASX 200 was down 0.6% at lunchtime on Friday in Sydney, as investors decided they’d seen enough drama for one week.

And fair enough. Wall Street had just served up a fresh round of drama, with none other than Nvidia’s Jensen Huang in the starring role.

Nvidia shares plunged as much as 13% overnight before finishing 4% lower, after the AI king abruptly quit following reports about his private life.

Yep, the man who helped build the AI revolution has suddenly left the building.

And Wall Street is now wondering who’s going to wear the leather jacket.

CFO Colette Kress has been handed the keys for now. Rivals AMD and Broadcom, meanwhile, must be finding it terribly difficult to hide their grins.

Morningstar isn’t reaching for the panic button, though, sticking with its US$310 fair value estimate for Nvidia stock.

And there’s some logic there. Jensen might be gone, but Nvidia’s chips, CUDA software and the world’s enormous appetite for AI computing haven’t resigned with him.

Back home on the ASX, the miners were having about as much fun as a vegetarian at a steakhouse.

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