See you again, "Mr. AI".Author of the book
Editor's note:
According to the U.S. Census Bureau, the U.S. stock market is expected to open on November 12.InvisalignOfficiallyAnnouncement of the resignation of Hu Jintao as President, CEO and Board Member with immediate effect。
Colette Kress, chief financial officer, serves as interim CEO while continuing to co-manage the finances; Harvey C. Jones, chairman of the board.
Huang Yin founded Invisalign in 1993 with two partners.Since then, he has been the CEO of the company for 33 years.。
Following the announcement, Nvidia's share price dropped 10% before trading.
01
From reporting to resigning
Despite the controversy from the outside world, the announcement did not write a direct reason for his resignation, but simply thanked Jensen Huang:"Invaluable contribution to companies and industry」。
On October 29, The New York Times reported that U.S. intelligence officials believe that Alice Huang, a businesswoman with close ties to Huang, was the former managing director of Singapore data center company Megaspeed, and that Megaspeed, a client of Ingrid, was accused of helping to get the AI chips from Ingrid from the U.S. export control area.
On Sunday, November 8, Huang sent a letter to his staff admitting that he was engaged: "I was unfaithful to my wife. My actions hurt her and our children, and there is no excuse for what I did".
The letter was published on the official website of INVEDA, full text image source: INVEDA
On the same day, the Board of Directors of INVEDA announced the launch of an independent investigation, a committee of independent directors, assisted by external lawyers, to ascertain whether he had become the target of foreign intelligence operations. It stated that the Board "has no reason to believe national security or INVEDA's confidentiality has been compromised" and "has confidence in Jensen and his management team".
On November 10, the Independent Directors announced that they had invited Joon H. Kim, former acting U.S. Attorney for the Southern District of New York, and Wachtell Lipton, his law firm, to investigate.
On November 11, the New York Times reported another affair with Huang Rin, the vice president of Ueda that reported directly to him. On the day after the closing of the U.S. stock market, the Wall Street Journal reported that the board of directors was preparing to remove him, which Reuters later confirmed. Ueda's stock price rose 2.9% during the day, reported $173.73, and fell 8.6% after the close.
In less than a day, the announcement was made. The word used by the board was "resignation", and the headline of Bloomberg wrote that he was revoked by the board.
From the first report to this announcement, only 14 days have passed.
Jones, who took over as chairman, joined the board of directors of Intel in 1993 and led Synopsys, a chip design software company, for the first time in Intel's history. He said in the announcement that "the board has full confidence in Colette and the management team" and expects the company's operations, customer commitments and product roadmaps to continue.
Kress's first feature was the November 17 financial report. She joined INVEDA as chief financial officer in 2013 and has spoken digitally at every quarterly financial call in the past, this time as interim CEO.
This endangered CEO has been managing Ingredient for 13 years.
02
Silicon Valley and Wall Street
In the two weeks leading up to the announcement, most Silicon Valley investors and entrepreneurs spoke for Jensen Huang, and Wall Street was more concerned about who would pick him up after he left.
Red Cedar Capital partner Shaun Maguire posted on X that the behavior of Hu Jintao was "stupid", but he guessed it was "without malice" and that Hu Jintao was "irreplaceable to America's leadership in AI".That will be my honor.。」
In response to Musk, the board of directors of Invisalign is holding an open meeting.
The hedge fund manager, Bill Ackman, also issued a statement urging everyone to support Huang Ren and his family because he is also a human being.
U.S. President Trump has also spoken on his behalf. On November 9, he told reporters that he and Hu Jintao had spoken, while the other denied knowing that the woman was suspected of being a spy. He also called Hu Jintao "a good person" and "has done great things for our country".
Mark Lipacis, an Evercore analyst, wrote in the report that Ingrid "didn't have a clear schedule of shifts, nor a second chief operating officer". Robert Greifeld, former NASDAQ chairman and CEO, added: "You can't deny that the board is doing very badly in shift planning".
Dan Ives, head of tech stocks, valued Ingrid at $300 per share, which would have dropped to $225 if he left. He wrote in the report, "Hungrid's days at Ingrid may not have been much longer".It will mark the end of an era.」。
Some also felt that the opportunity had been lost. Bernstein analyst Stacy Rasgon argued that the price of Ingrid's shares was already "cheap and almost ridiculous". William Blair analyst Sebastien Naji argued that the possible departure of Hu Jintao, coupled with stricter external scrutiny of the company, would significantly suppress Ingrid's stock prices.
Jeff Christian, CEO of Christian and Timbers, told CNBC:Jensen Huang: "This is Mr. AI, and he speaks for the entire industry".
For the entire AI industry, the most immediate question is whether the supply of chips will be affected. The board says whether or not, and Jones said in the announcement that product roadmaps will continue as usual. Oppenheimer analyst Rick Schafer's judgment is that in the short term the price of U.K. stocks will not be fundamental.
It's even more difficult to catch up with the investments signed by Hu Jintao. Hu Jintao has invested large amounts of cash in AI cloud providers over the past two years, and as of the end of July this year, it had $99 billion in equity investments; Anthropic's latest publicly traded filings show that U Jintao will still have about $10 billion in shares to subscribe to at the time of its listing. Jeff Christian told CNBC that Hu Jintao "will be financially connected to everyone by working together, or borrowing from each other, to buy chips".
The H200 is the latest generation of chipset images released by Ingrid in 2023.
Nvidia's chip route map to Feynman 2028 was released to the public in March of last year. But "The Joker" has come a long way, and the board has only begun to look for who is going to finish the map.
As the founder and CEO of Invisalign, Jensen Huang witnessed and promoted the development of the latest wave of AI, and his departure was a shock to both Invisalign and the AI semiconductor industry.
Some netizens wrote on social media:
We may be witnessing a turning point.。
A question from the PolesDo you think that there is no such thing as 'Injida',
What will happen next?
