Jensen is just trying to keep his job. There are multiple stories here, and this is just the normal reaction for a guy who's facing (with Nvidia as a whole) a class action suit from what he said on earning/quarterly calls over the last 6-9 months.
He's co-founder of the company, he's got a lot of skin in the game. INVESTORS have a lot of skin in the game. How he portrayed supply/demand over the last couple quarters has him in a HEAP of hot water. On October first - the stock was sitting at $289. Q4 hits...the reports are just coming up now (as evidenced by today's news). The stock sits at $138. Let that sink in. The company has lost 50% of his value in the last quarter. It's current market cap is $84 Billion. Double that...that's what they lost in 4 months (including January).
You think RTX and gamers and ray tracing caused $84B in losses? No. It's loss of confidence in a CEO on moving the ball forward on what should be their easiest customer - gamers. But think AI and machine learning. Think of enterprise contracts worth millions. They have big plans, no doubt. But RTX release was ugly. Demand for 10 series was overstated for 2 quarters by Jensen. And investors (whales), are wary as to the future under the command of a guy who just BS'd them for the last 6 months. The China excuse is weak too...AMD and Intel and Samsung and all the rest have taken that into account - but they aren't calling "The sky is falling, China...but, but China."
"It just works" didn't fly as they saw their stocks drop day after day. The memes we all laugh at cost a lot of people a lot of money, and he's the face of that meme and the company behind it.
Could good come of all this? Sure. Tech moves on, gets better - prices eventually lower and devs adopt RT. That day seems a bit far off at the moment, and it might need change at the top of Nvidia to make it a reality. Dude, he can still be a Musk and pseudo-run the show - but I think investors have had enough.
I think competition is good, but it needs to be healthy competition. Nvidia raises and sets the bar - let's be realistic. But hubris always leads to downfalls.
Anyone remember when they pushed back the release date of RTX from Sept. 20th to the 27th? Thankfully Jensen dumped 41,253 shares on the 18th at $271. No one said he wasn't smart
Nvidia inside trades last 6 months = https://www.reuters.com/finance/stoc...trading/NVDA.O