Key facts
- Nvidia CEO Jensen Huang is out, according to the newsletter, which cites alleged affairs with a Chinese spy and a subordinate.
- The newsletter says Nvidia's stock was in the red after the leadership change.
- Sequoia partner Shaun Maguire wrote on X that Huang's contributions to AI leadership cannot be overstated.
- Basis Set Ventures' Lan Xuezhao said Nvidia backstops so many others that the entire market is exposed.
- CIQ president Bjorn Hovland said there are credit concerns in the AI infrastructure buildout.
Nvidia CEO Jensen Huang is out, according to a November 12, 2026 newsletter by Katie Roof and Ben Bergman. The newsletter said the change adds to uncertainty facing an AI industry already grappling with compute shortages and a backlash against data centers. It said Nvidia's stock was in the red after the news.
The newsletter cited alleged affairs with a Chinese spy and a subordinate as the reason for Huang's ouster. It did not name a source for the allegation. Sequoia partner Shaun Maguire wrote on X on Thursday, November 12, 2026, that Huang's contributions to American innovation and AI leadership cannot be overstated. Ron Conway, cofounder of SV Angel, also wrote on X defending Huang's vision.
Dr. Lan Xuezhao, founder and managing partner at Basis Set Ventures, told the newsletter she feared Nvidia's changed leadership because the company backstops so many others that the entire market is exposed. She said some startups may have gotten carried away and should try to get acquired. The newsletter also said Anthropic's IPO is expected the following week and is said to be oversubscribed.
Ben Bergman reported from Salt Lake City, where he interviewed CIQ executives at an AI Insider reception on the outskirts of KubeCon and CloudNativeCon North America. CIQ president Bjorn Hovland said the industry can be both overbuilt financially and still short on the computing power customers will need. He said there are credit concerns.