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IT Home reported on November 14 that, according to Bloomberg's report on the 13th, Wall Street is not too worried about how much of a blow Jensen Huang's departure as Nvidia CEO would deal to the AI investment boom.
After the market opened on the 12th local time, Nvidia shares plunged as much as 14%, dragging down other AI-related stocks. But the sell-off quickly eased as investors refocused on long-term demand in the AI industry and began looking for companies that might benefit from the turmoil. Nvidia ultimately closed down 4.3%.
Steve Sosnick, chief strategist at Interactive Brokers, said: “The market is concerned not with assessing risk, but with finding opportunities. Investors are asking: ‘If Nvidia gives up market share, who stands to benefit?’”
Broadcom and AMD shares surged, becoming the biggest contributors to gains in the S&P 500 index. Investors believe the two companies may be able to win business Nvidia loses because of the turmoil.
The Philadelphia Semiconductor Index fell as much as 3.7% at the open, but later recovered most of its losses and closed down just 0.5%.
Patrick Moorhead, CEO and chief analyst of Moor Insights & Strategy, said: “In the short and medium term, I don't think this will change the AI investment landscape. Broadcom, Intel and numerous startups are capable of filling many of the market gaps Nvidia may leave behind.”
According to IT Home, the market has been concerned in recent weeks about whether the enormous investment in AI can be sustained over the long term, putting pressure on AI-related stocks. The results of the U.S. midterm elections also dampened some investors' enthusiasm, as many state and local candidates who opposed building data centers in their areas won their races.
However, Wall Street figures noted that major AI cloud service providers have pledged to maintain large-scale investment through 2027, which could provide near-term support for the AI sector. With its high-performance chips, Nvidia became one of the earliest beneficiaries of the AI boom, and Huang also played an important role in advancing infrastructure development and forging business partnerships.
But the development of the AI industry has long since ceased to depend on Nvidia alone.
Angelo Zino, senior vice president and head of technology research at CFRA, said recent earnings reports from AI companies show that market demand remains strong: “The AI industry is well past its infancy. I don't think Huang's departure can change all that.”
The uncertainty Huang's departure creates for Nvidia's future still cannot be ignored. He previously invested Nvidia's profits in dozens of companies across the AI supply chain, creating a complex web of circular investments. With Huang gone, some of those companies may be affected.
Those concerns prompted investors to sell shares of AI cloud computing providers Nebius and CoreWeave at one point, while server maker Super Micro Computer saw its shares plunge 11% on separate news.
Brian Colello, equity strategist at Morningstar Investment Services, said: “If Huang worked with and supported some small companies, or even invested in them directly, allowing them to benefit from his endorsement, that advantage will disappear with his departure.”
Colello said Huang has long been a prominent figure in the AI industry and a widely respected advocate for technology. To some extent, the AI industry will lose a leader who championed technological development and promoted AI's advantages. “Nvidia's new CEO will also need to take on that work, which is just one of the role's many responsibilities.”
Nancy Tengler, chief investment officer at Laffer Tengler Investments, said: “One thing I've learned over the years is that no one is irreplaceable. I don't think this will have a noticeable effect on the overall AI investment market. For Nvidia shareholders, it's just an unfortunate little episode.”
Allen Bond, managing director and portfolio manager at Jensen Investment Management, said: “AI is a transformative technology, and that won't change. There is still a great deal of uncertainty about AI's development, but one thing is very clear: AI requires an enormous amount of costly computing power. We believe this wave of infrastructure development will continue.”