INSTANT VIEW-Nvidia CEO Jensen Huang steps down

Nvidia NVDA.O CEO Jensen Huang is stepping ​down, leaving the AI industry without ​its biggest champion and clouding ‌the future ​of the chipmaker he built into an AI powerhouse. Chief Financial Officer Colette Kress will take over as interim CEO ‌as Nvidia looks for a permanent successor, the company said on Thursday. Huang, who co-founded Nvidia and is its fourth-largest investor with a stake of about 3.61%, will not remain ‌on the board.

Here are some reactions to the news: DANIELA HATHORN, SENIOR MARKET ‌ANALYST AT CAPITAL.COM, UK

"Investors are trying to figure out what it means exactly for the future of the company. They're putting someone as an interim just to step in. It's just a ⁠concern about ​what the leadership transition ⁠means for the company, whether it changes much. "There's a key risk here because Jensen was seen as ⁠the kind of the front man of AI, not just at Nvidia, but in general. And ​him stepping down kind of adds a little bit of jitters to the ⁠market ahead of the earnings next week and obviously in the middle of this AI rout ⁠that ​we're going through. So it's just adds another layer of that kind of uncertainty and concern being piled onto the market."

GIL LURIA, MANAGING DIRECTOR, DA DAVIDSON, ⁠PORTLAND "Colette Kress is well respected by investors and should be able to guide NVIDIA through ⁠this challenging ⁠period. The task is daunting, as NVIDIA has been founder-led since inception and Mr. Huang concentrated much of the decision making."