Fallout from the Nvidia scandal may dampen the exuberance around the AI boom
“incestuous.”
“Nobody’s just sitting still,” he said.
He described the circular financing practice as “incestuous.”
Nvidia has had an advantage from the start and as soon as a competitor releases something just as good, Nvidia has put out the next better chip, said Jay Aldebert, chief growth officer of International Services Inc.
Leadership within companies across the tech sector likely spent much of Thursday in meetings aiming to figure out a “backup plan” for some of their financing, Aldebert said.
AP’s paraphrase of Jay’s points. Quotation marks appear only where the article uses them.
AP technology writers Barbara Ortutay and Kaitlyn Huamani report on how the scandal at Nvidia, after Jensen Huang resigned as CEO on November 12, 2026, may cool the AI boom: rivals chasing Nvidia’s chips, buyers rethinking a single supplier, and the circular financing that ties AI companies together. AP Business Writer Mae Anderson contributed from New York.
This is AP’s own reporting, not a news release. Outlets that ran the AP story with Jay’s name include ABC News, The Boston Globe, SFGATE, The Independent, MSN and Yahoo Finance.
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