More Tales From Nvidia: How Jensen Huang Does Anything Is How He Does Everything (Issue #276!)
* As I have written over the last two years, Jensen Huang was given too much control and autonomy at Nvidia (NVDA).
* In our series, “More Tales,” we frequently questioned things like “roundtripping” (that the consensus freely accepted) and other aggressive company policy — now we know there was a reason to question Jensen Huang’s judgment on many levels (including the well-known and vast AI circular financing)
* With the benefit of hindsight (and the failure of investors to recall Jensen’s past aggressive use of accounting and his SEC violations of accounting and disclosure rules), most now recognize how Jensen Huang does anything is how Jensen Huang does everything
* The company’s Board and investors have to now assess the most recent radius of his control of the company with regard to investments and other positions (like roundtripping) he has taken.
* However, complicating matters is that the judgment of the Board must also be questioned if Jensen Huang’s affair was a secret that was only known to them — they are vulnerable and a wholesale change has more than a non-trivial possibility
* There are not only corporate governance issues regarding Nvidia, there are government governance problems (Commerce Secretary Howard Lutnick may be shortly gone, as my Gnome has heard)
* For reasons mentioned in this column, the Anthropic IPO might now be in jeopardy
* Written last night…. following the bouncing ball!
Written at 7 PM Wednesday
And it sounds official per the Wall Street Journal:
Nvidia Is Preparing to Oust CEO Jensen Huang
That Board is now badly exposed. The Board could slam the brakes on everything that was associated with him, including their commitment for $10 billion of Anthropic’s IPO private placement and any other “central banking”-related activities, as well as shut down every single shipment of product not going anywhere that they are not 100% certain of the bona fides.
The Board should immediately stop every single extraneous thing now except for the basics of running the business. I would start with trying to collect receivables, and there is no shortage of them!
In terms of who runs the thing, there might not be any senior executives at the company they can even turn to. It seems they all had to know about a lot of the stuff, not just Jensen Huang’s personal behavior, but all the China/Asia dealings and financial stuff touches a lot of people at the company.
I think Jensen Hunag will not be the only one to go, not even close.
One more reason they need to slam the breaks on everything, ASAP.
Written at 6:30 PM Wednesday
And there you go, as they said in Looney Tunes, “That’s All Folks!”
https://www.nytimes.com/2026/11/11/technology/jensen-huang-nvidia-affair.html
As I wrote, this should not be a surprise from Jensen Huang, the boob signer. Like I said, it is a mathematical certainty, when there are two ants in the kitchen, there are more than two ants in the house. In fact, there are normally hundreds if not thousands.
The fact that all of this is coming out at once, well it clearly all had to be known for a long time too. Just like Megaspeed and the other stuff was there for anyone to see, and they did not have to look very hard. But everyone, including Wall Street and the Commerce Department, chose to look away. (My Gnome is hearing that Howard Lutnick (the Commerce Secretary) will be gone soon).
There will be tons of things for the investigators and regulators to look at on top of the China/Megaspeed related stuff too — disclosure, accounting, circular financing, all of it. Maybe they will do a better job of it than the last two or three times. If all they give is a slap on the wrist, the behavior repeats, in spades.
All the money printing from the Central Bank of Nvidia should now come to an end. We go from QE, to QT, and Q-Flee (or Flea).
Speaking of ants, back to that wildly oversubscribed ANT IPO. Joke. Lining up to buy what the insiders are selling? Who would be foaming at the mouth to do that, while at the same time piling into a structure that gives you no rights, and whose CEO, per that video I sent in two prior, is cuckoo for cocoa puffs, while the underlying fundamentals are eroding and their forward commitments are through the roof, and the central banker will now be in withdrawal mode? Don’t fight the Fed, right?
Written at 5:00 PM Wednesday
It is hard to believe Commerce Secretary Howard Lutnick is not toast, and in this case, he should be, in my view. Self-interested and unlikable, does not help with vote totals and perception either. Only question I have is if Treasury Secretary Bessent punches him in the face before he exits stage left:
Scoop: Bessent confronts Lutnick in Situation Room over China inaction
* I call B.S. on this story regarding the Anthropic IPO being wildly over-subscribed. But this is what they do to try and drive demand. If there is so much institutional demand, why the private placement and why the 20% allocation to retail? The road show just started too, orders really do not roll in yet and allocations do not happen yet. Not to mention, you cannot resell your allocation at a premium because nobody has an allocation yet, and you can’t just sell an allocation to someone else. The way you do sell it at a premium, in theory, is flip it out if it trades up on the offering. Further, this whole IPO is B.S. on top of B.S. This story smacks of desperation IMHO and does not pass the smell test:
Also, if I remember correctly, Nvidia under his watch has two or three prior SEC violations for accounting or disclosure issues.
And the company does not engage in circular financing transactions or make loans to its customers. Oh… wait! From Herbela Greenberg:
Nvidia – ‘He Did Not Have Sexual Relations With That Woman’
Position: None
Position: None
BY Doug Kass · Nov 12, 2026, 7:24 AM EST
