Following Jensen Huang's resignation as Nvidia CEO, Kalshi traders are pricing the possibility of his next move to another company.
Kalshi's market for Huang's next employer shows SpaceX at 8%, followed by Tesla at 4%.
For informational purposes only. Not trading advice. See full disclaimer below.
Huang resigns from Nvidia
Huang resigned Thursday following a report alleging another extramarital relationship with an Nvidia executive.
The New York Times reported that chief financial officer Colette Kress will serve as Nvidia’s interim chief executive as the board searches for a replacement.
Huang’s resignation stems from a separate New York Times report published on Wednesday that he engaged in a second affair with Kimberly Powell, Nvidia’s vice president of health care.
The report says that a bystander saw the couple together at a hotel in San Jose, California, during a developer conference in March of last year. The bystander recorded the moment on their cell phone. Huang’s security personnel approached the bystander with a proposed nondisclosure agreement.
The board convened a meeting to discuss the matter and “determine his future, people familiar with the matter said,” according to Wall Street Journal reporter Olivia Beavers.
CNBC also reported that members of Congress called for Huang’s firing or resignation. Sen. Kevin Cramer, a member of the Senate Banking Committee, “doubled down Wednesday on his call for Huang to resign.”
Huang admitted to his first affair back in November in a memo to his employees. Business executive Alice Huang is alleged to have a possible connection to Chinese intelligence and was recruited to gather intelligence on Jensen.
Huang going to SpaceX?
SpaceX's position in the market comes after CEO Elon Musk publicly expressed interest in hiring Huang.
Moneywise reported that the financial blog Zerohedge sent a post on X that read, “Elon please hire Jensen.” Elon Musk responded to the post, “That would be an honor.”
The move for Jensen wouldn’t be a far one for Huang. SpaceX acquired Musk's artificial intelligence company xAI in February and went public in June. Nvidia also owns a “multibillion-dollar piece of SpaceX.”
“We’ve decided to build exclusively on Nvidia because we think the Vera Rubin architecture is the best architecture,” Musk said on SpaceX’s first earnings call as a public company in August.
The Motley Fool argued that hiring Huang could strengthen SpaceX's artificial intelligence and semiconductor ambitions.
“More than just an ‘honor,’ SpaceX poaching Huang from Nvidia would be a coup, a brilliant move on Musk’s part, and a way to turbocharge SpaceX’s own efforts to build artificial intelligence chips and AI data centers in space,” The Motley Fool wrote. “In one fell swoop, Musk might co-opt arguably the leading mind in semiconductor chips, bring him in-house – and deny him to any of SpaceX’s competitors.”
The takeaway:
Kalshi markets now predict:
Follow Danny Gallagher on Instagram: @writerdannygallagher
Follow Kalshi on X: @Kalshi | Image Source: Benjamin Fanjoy
The opinions and perspectives presented in this article belong solely to the author. This is not financial advice and does not constitute an offer, solicitation, or recommendation to trade any specific product. Information is provided for convenience only on an "AS IS" basis. Past performance is not necessarily indicative of future results. 18+ only. Restrictions and eligibility requirements apply. Trading event contracts and trading leveraged products, including perpetual futures, involves significant risk and is not appropriate for everyone. Please carefully consider if it is appropriate for you in light of your personal financial circumstances. Kalshi products are not available in all jurisdictions. See kalshi.com/regulatory for more information. Kalshi is subject to U.S. regulatory oversight by the CFTC.
