NVIDIA CEO Jensen Huang resigned after the company’s board met to discuss his possible removal. According to The New York Times, a second affair involving Huang and a senior executive who reported directly to him was reported, following an earlier investigation into a relationship with an alleged Chinese spy. NVIDIA has lost roughly $1 trillion in market value since the first reports, while House Republicans are threatening to subpoena the company over national security concerns. The program identifies the main risk in the circular financing of AI infrastructure: NVIDIA backs certain chip purchases, subsequently buys back its customers’ securities, and progressively devalues assets whose useful life is shorter than the duration assumed in financial statements.
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