Nvidia disclosed that Jensen Huang, 63, will no longer serve as chief executive, announcing the change about 42 minutes before the market opened on Thursday. The board launched an investigation after reports that Huang had an affair with a Chinese businesswoman identified by U.S. authorities as a Beijing spy, and a separate report of a second affair with a direct report. Nvidia is valued at roughly $4 trillion, and the AI sector faces pressure to generate $6 trillion in annual revenue by 2031 while one‑fifth of organisations cite AI‑related operating costs as a barrier.
Silicon Valley
5 stories since 29 October 2026, newest first
13 November 2026
10 November 2026
California voters rejected Proposition 40, a one-time 5 % levy on net worth above one billion dollars that would have hit about 200 billionaires. With most ballots counted, 52.8 % voted against and 47.2 % in favour, according to reports on 10 Nov, and the Associated Press later confirmed the same split. Supporters had projected roughly 100 billion dollars for public healthcare, while Stanford researchers estimated 30 billion. Opponents, including Google co-founders Sergey Brin and Larry Page, spent hundreds of millions of dollars, and Governor Gavin Newsom said he would vote against it. The measure was on the ballot in last week's midterm elections.
7 November 2026
Nvidia's board has opened an independent investigation into CEO Jensen Huang after reports that he had an affair with Alice Huang, a Singapore-based Megaspeed executive whom U.S. intelligence services link to Beijing's espionage. Nvidia shares fell more than 4 percent on Monday, 9 Nov, and kept declining on Tuesday. President Donald Trump said the FBI is investigating, and no one has been charged. Nvidia said it has no reason to believe national security or company secrets were compromised. The company has retained former acting U.S. Attorney Joon H. Kim to lead the inquiry.
3 November 2026
Tech and chip shares fell worldwide after the US midterm elections, with the Nasdaq dropping 6 percent, its worst fall since March 2020, and Nvidia shares losing more than 9 percent. The sell-off wiped out about $3 trillion in S&P 500 market value, and trading in South Korea was briefly suspended. Investors fear Democratic control of Congress could bring stricter rules on technology firms and data centres. Democrats in Ohio, Michigan, Texas and Georgia pledged to slow or pause data centre development. Dozens of local ballot measures restricting data centres passed in several US states.
29 October 2026
Microsoft reported free cash flow of 18.6 billion USD, double analysts' expectations, while its Azure cloud segment grew 48 % in the quarter, up from 43 % before. Its AI-related capital spending reached 45.2 billion USD, about 5 billion USD below plan. Goldman Sachs chief economist Jan Hatzius expects the AI investment peak in late 2026 or early 2027. Alphabet's shares fell more than 10 % after hours, erasing over 400 billion USD in market value, while Microsoft's shares rose 3.5 %.