Nvidia CEO Jensen Huang resigns amid scandal; AMD shares swing sharply
Photo: Washington TimesJensen Huang resigned as chief executive of Nvidia on November 12 amid a scandal, prompting investors to buy rival chipmakers. Shares of Advanced Micro Devices, led by Huang's cousin Lisa Su, rose nearly 45% over five sessions. AMD then fell 7.3% in morning trading, to $542.34, as Nvidia began to recover and traders unwound those bets. The Nasdaq was down 0.7% and the S&P 500 was off 0.4%, while AMD trades at roughly 125 times trailing earnings and its free cash flow contracted sharply in the third quarter. Short-seller Michael Burry reportedly doubled his Nasdaq 100 put positions.
Left-leaning coverage, led by The Washington Post, centers on investors betting on Huang's cousin's chipmaker instead, stressing AMD's surge this week, and describes Huang's downfall without detailing the scandal. Right-leaning coverage, led by the Washington Times, asks whether Su could step in to lead Nvidia and spells out the scandal: two affairs were uncovered, one with a potential Chinese spy and one with an employee, leaving a void at the top. Alternative coverage from Investing.com is narrower, focusing on AMD's stock slide, valuation and short-seller bets, and calling the drop a sector-wide unwinding rather than AMD-specific news. The sides agree on Huang's exit and AMD's rally, but differ in emphasis: the left stresses investor flows, the right stresses the affairs and succession, and the alternative stresses the day's stock move.
How the sides differ Left sources focus on investors shifting to AMD; right sources stress the affairs and succession; alternative sources focus on AMD's stock drop.
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Left coverage, led by The Washington Post, leads with investors shifting toward AMD and the Huang-Su family link, describing Huang's downfall without detailing the scandal in its excerpt.
Alternative coverage, from Investing.com, focuses on AMD's market moves, valuation and short-seller bets, describing the drop as a sector-wide unwinding.
Right coverage, led by the Washington Times, asks whether Lisa Su could lead Nvidia and details two affairs, one reportedly with a potential Chinese spy, stressing a leadership void.