
Strategy Inc. (NASDAQ:MSTR) CEO Phong Le said on Thursday that AI has grown beyond any single executive, while praising Jensen Huang’s three-decade effort building NVIDIA Corp. (NASDAQ:NVDA).
In a CNBC interview, Le praised Huang for doing an "amazing" job building Nvidia from the ground up and developing the technology that underpins today’s AI boom.
Le said that CEOs are “humans” too and refrained from commenting on the controversy surrounding Huang.
“AI is bigger than Jensen at this point in time,” he added. “I think everyone will be fine after this incident. AI is still going to dominate the world.”
Huang resigned as President, CEO, and Board Director on Thursday. Executive Vice President and CFO Colette Kress has been appointed interim CEO.
Huang co-founded Nvidia in 1993 and remains the face of the AI boom. The board has begun searching for a replacement and will consider both internal and external candidates.
Changpeng Zhao, founder of the world’s largest cryptocurrency trading platform Binance (CRYPTO: BNB), said that Nvidia made a “mistake” by letting Huang resign.
The NVDA stock is down 10% this week and on pace for a sixth straight weekly decline. Sentiment weakened following reports of Huang’s extramarital relationships, including one with Alice Huang, a Chinese businesswoman whom U.S. authorities suspect of having ties to Chinese intelligence. Jensen Huang acknowledged infidelity in a Nov. 8 employee message but did not identify the woman.
The controversy has widened, with new reports alleging that Huang had an intimate relationship with two other Nvidia employees.
Sen. Tim Scott (R-SC), the Republican chair of the Senate Banking Committee, called for Huang to testify before Congress, raising “serious concerns” about national security.
Price Action: NVIDIA shares are up 0.10% in overnight trading. The stock closed 4.34% lower at $166.19 during Thursday’s regular trading session, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that NVDA maintains a weaker price trend over the short, medium, and long terms.
See More: Top Momentum Stocks
Photo courtesy: Shutterstock