Nvidia CEO Jensen Huang Exits as Shares Fall Amid Reports of Affairs

George Soros' firm, Soros Fund Management, disclosed a $340 million stake in Intel (INTC) during Q3, increasing its holdings from 100,000 to 2.83 million shares. The firm also significantly increased its positions in Datadog (DDOG) and Meta Platforms (META). Intel's stock has risen over 50% year-to-date, driven by strong AI server demand, but faces challenges in other segments.

Anthropic, an AI company, is preparing for an IPO with a potential market cap of $1.4 trillion, down from earlier estimates. It has secured $26 billion in investments from major AI players like Alphabet, Nvidia, and Microsoft. The company reported $33.2 billion in revenue for the nine months ended Sept. 30, but remains unprofitable. The IPO is expected to take place next week.

Copper prices fell to a four-month low, with traders citing Nvidia's CEO Jensen Huang's resignation as a factor. Copper has declined weekly since mid-October, attributed to positioning in AI-linked stocks. Nvidia's shares dropped 4.3% on Thursday and 2% more on Friday. Analysts note Nvidia's role in funding AI deals, suggesting a potential pause could impact copper demand. Goldman Sachs sees subdued copper positioning if AI spending slows.

Two Nvidia investors urged the board to take time in selecting a permanent CEO and keep Jensen Huang's potential return open. The investors, Gerstner and Baker, cited ongoing questions about recent events. Nvidia's board is conducting an independent investigation into Huang's resignation, which occurred on Nov. 12. The company appointed Colette Kress as interim CEO. Nvidia is set to report Q3 2027 earnings on Nov. 17.

Nvidia's CEO Jensen Huang resigned amid reports of personal relationships tied to U.S. national security concerns. The board named CFO Colette Kress as interim CEO. Shares fell 4.3% on the news. The company faces U.S. congressional scrutiny over China chip access and potential export violations. Huang is set to testify before Congress.

Jensen Huang resigned as Nvidia CEO Nov. 12 following reports of extramarital affairs. The Jen-Hsun and Lori Huang Foundation, which holds 58.7 million Nvidia shares, pledged $75 million to Vanderbilt for a new San Francisco campus. The impact on the donation and foundation is unclear. Nvidia's stock reacted to the news.