Nvidia Is Down 30%. How Much Was Jensen Huang Worth?

Vincent (0:00)

The AR trade remains interesting, it remains volatile for sure. I think the sell off and the cost also by this the last couple of days is a by the dip opportunity.

John Gillen (0:11)

Hello everyone, it's John Gillen here. Welcome to Milk Road Stocks, a daily market show that knows that it is a good time to go shopping for secondhand leather jackets. Today is Thursday, November 13th, 2026 Jensen Huang is out as CEO after 33 years of building Nvidia into a $5 trillion company, now a $4 trillion company.

He is out as CEO. The stock is down about 30% in just a month. Vincent thinks that the leaks were aimed at pressuring Trump before the midterms, and Jensen got caught in the crossfire today. Vincent, one of our leading analysts, is on the show to talk through how all this unfolded, why he thinks Nvidia without Jensen is like Tesla without Elon, and how cutting China off from US compute could backfire. This is going to be an important episode. There's a lot of alpha in this one. Vincent is really plugged in to what's going on in this situation. So he's going to give us a lot of great information here. That sounds good to you. Make sure you like and subscribe. Share this episode with somebody who's going to enjoy it. Another thing I want to call out is that if you join Milk Road PRO, you can see how Vincent is trading around this news in his portfolio. Today, the link is in the description. It's just a dollar. You get access to Vincent. All of his portfolio moves and his positions, as well as to myself and the rest of the Milk Road PRO analysts. So check that out if you want to get access to that information. We hope you enjoy this episode. There's a lot of out from this one, so enjoy.

Vincent (1:24)

All right, guys. There is no dull week in AI. That's for sure. I mean, we were supposed to talk about the midterm results and how the Democrats are slowing down and the AI buildout. We were definitely supposed to talk about the entropic IPO that's coming next week. But no, we don't care anymore. At least on X, we do not anymore because Leather Jacket, our guy Jensen is not CEO of Nvidia anymore. He stepped down and today I want to break down the entire story why I think Jensen is only the crossfire of political interests.

We will talk about what it means for Nvidia and you as an investor, should you hold on to Nvidia? Should you sell Nvidia? Also, what does it mean for broader geopolitical developments between the US and China and the broader AI trade? Yeah, going to be a good one. Let's jump into it. We all know Jensen is gone. He has been the founder and CEO of Nvidia for the last 33 years. Quite ridiculous. From a startup, he built a company basically from scratch as a startup to a $5 trillion company at one point being the biggest company in the world. Pretty remarkable. Now, the supervisory board pressured him to go because of several reasons, mainly because he had a romantic relationship with, reportedly, a Chinese spy and a romantic relationship with one of the VPs at Nvidia, which ultimately costs him the job. I think the more interesting question is, why now? Why is this story coming to light to the surface now? Because, I mean, think about it, Jensen Huang is arguably one of the most important people in the US, right? Because if you think about AI as being this transformative technology that will transform everything in terms of how we live, how we work, what we do as society, and Nvidia is sitting at the center of gravity, at the center of this development, and then the Jensen is CEO of Nvidia is one of the most important human beings out there, right? So the CIA and all other institutions that exist know 24-7 what Jensen is doing, with whom he's spending time with, and probably even what he's thinking about, right? So it is obvious that China is having Nvidia chips, and it was for them obvious that he had a romantic relationship with Alice Huang that reportedly be a Chinese spy. So why is this coming to the surface now? And I prepared this kind of comic to compress the entire story into one slide, basically, because there is a lot of nuance to it, and also how in the end he got...

He ended up as being collateral damage in this entire process. So first, on the October 29th, the New York Times came out with a report saying that Jensen has close ties to Alice Huang. Alice Huang, again, is that reportedly Chinese spy who is a former member of Megaspeed, which is a Singaporean-based company that is smuggling Nvidia chips into China, right?