technology ·
Bracing for Nvidia's impact
Data: FactSet; Chart: Matt Phillips/AxiosNvidia CEO Jensen Huang's apparent from grace is a shock to a company at the core of the U.S. markets and the AI ecosystem that he did much to create.
Why it matters: CEO scandals happen at companies. But there is no other company quite like Nvidia. - Its size, financial resources and strategic position in the AI boom have made both the chipmaker and Huang, personally, pillars of the industry that has come to drive both the stock market and the economy. Stunning stat: Since the end of last week, the company lost over $600 billion in market value through Wednesday's after market session.
Zoom out: Those losses will touch a lot of portfolios. - With a market capitalization of roughly $4.18 trillion — through Wednesday's close — Nvidia is the world's second-largest publicly traded company, behind Apple, giving it significant sway in market capitalization-weighted indexes, such as the S&P 500 and the Nasdaq 100. It has equity stakes in Anthropic and OpenAI.
