Making waves in markets: Nvidia CEO resigns, CoreWeave beats expectations, Mainfreight exceeds forecasts

Nvidia's (NVDA) CEO Jensen Huang resigned following reports of alleged extramarital affairs. CFO Colette Kress is interim CEO. NVDA stock fell 28% in a month. Questions arise about Nvidia's revenue from alleged illegal chip sales to China via Singaporean data center Megaspeed, with short-seller Culper Research claiming 20% of FY 2026 compute revenues may have been diverted. Nvidia denies these claims, but the situation could impact future sales and export restrictions.

Nvidia employees are urging the board to reconsider co-founder Jensen Huang's departure, highlighting his significant impact on the company's success. Huang resigned as CEO and board member, with CFO Colette Kress appointed interim CEO. Employees cite Huang's role in transforming Nvidia into a leading AI chipmaker and express concerns about the company's future without him. Nvidia reported $96.2B in Q2 revenue, with AI-related data center revenue at $89B, and forecasts $108B for Q3.

The Korean government confirmed Nvidia's commitments to supply 260,000 GPUs and collaborate with Korean companies remain intact despite CEO Jensen Huang's departure. Nvidia's plans include partnerships with Samsung, SK Group, Hyundai, and Naver. However, concerns persist about the reliance on Huang's personal verbal commitments, as noted by Elon Musk.

US may block Chinese access to Nvidia chips in Southeast Asia. Nvidia partners like Aolani and Megaspeed serve Chinese clients via overseas data centers. Rules could require licenses, prohibiting remote access. Nvidia argues for maintaining market share. Aolani funded $2.5B in hardware, with ByteDance as a key client. Megaspeed arranged $12B in chip orders to China.

Nvidia's CEO Jensen Huang resigned following allegations of extramarital affairs, including one with a woman suspected of spying for China. The scandal has caused Nvidia's stock to plummet and raised concerns about corporate espionage in the tech industry. Huang's relationship reportedly facilitated the transfer of advanced Nvidia chips to China, according to US officials.

Nvidia prepares for Q3 earnings on Nov 17, with revenue expected around $108B. CEO Jensen Huang resigned amid controversies, including US lawmaker inquiries about his ties to a former executive. CFO Colette Kress is interim CEO. Analysts watch for AI chip demand signals and company stability.