Jensen Huang exits Nvidia after 33 years; Kia India plans $2B investment in Andhra Pradesh
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Jensen Huang exits Nvidia after 33 years; Kia India plans $2B investment in Andhra Pradesh The transition comes at a critical juncture for Nvidia, whose chips have become the backbone of the global AI boom. Dear Reader, It's the end of an era at Nvidia. Co-founder Jensen Huang has stepped down as CEO after 33 years at the helm, following a turbulent week of controversy and board probes. More on Huang's sudden exit, the interim leadership and what comes next for the AI chip giant below. After high-profile Indian public listings from portfolio giants like Swiggy and Amagi Media Labs, global investment firm Norwest has just closed its largest fund with a war chest of $4 billion. With its 18th fund, the 65-year-old firm is doubling down on its multi-stage strategy across India, the US, and Israel. The fund will back technology, healthcare and consumer businesses, from early-stage startups to companies preparing for public listings. Closer home, CommonFloor co-founder Vikas Malpani reflects on why the company's $200 million acquisition by Quikr felt more like a loss than a victory. Rather than taking on advisory roles, he decided to start from scratch to launch social platform Leher before establishing Garvik AI. As the CEO of Garvik AI, he uses AI across sectors such as banking, edtech and real estate. Meanwhile, a year after Lenskart's IPO, co-founder and CEO Peyush Bansal says the company has yet to fulfil its original mission of making clear vision accessible to everyone. In a LinkedIn post, Bansal announced that Lenskart would stop charging extra for blue-light filtering lenses and offer prescription glasses to 100,000 children for a Rs 199 fitting fee. “What we have done is not enough,” he said. Lastly, Mumbai-based investment manager ValueQuest Investment Advisors has made a total commitment of Rs 775 crore to three Indian businesses in defence technology, precision engineering, and power infrastructure. It has now backed Sagar Defence Engineering and Rational Engineers and also added to its earlier investment in TASE Global. The Rs 775 crore is a portfolio commitment, not a single company’s fundraise. In today’s newsletter: - Nvidia's leadership shake-up and what comes next - Kia India plans $2B investment in Andhra Pradesh Here’s your trivia for today: What name was given to the small robotic rover deployed onto the lunar surface by ISRO's Chandrayaan-3 lander in August 2023? (Scroll down for answer) News Jensen Huang exits Nvidia at a crucial time Following a turbulent week of board probes and scandal, Nvidia co-founder Jensen Huang has stepped down as president, CEO, and board member effective immediately. His resignation brings his 33-year run at the helm to a sudden close as investors increasingly question the AI boom. Longtime CFO Colette Kress is stepping in as interim chief executive while the board searches both internally and externally for a permanent successor. She joined Nvidia in 2013 after nearly 25 years in finance roles at technology companies including Cisco and Microsoft. Key takeaways: - The transition comes at a critical juncture for Nvidia, whose chips have become the backbone of the global AI boom. Huang helped transform the company from a graphics-chip maker into one of the world's most influential technology businesses. His successor will have to sustain that momentum as competition intensifies and customers look to develop more of their own AI chips. - On November 8, Huang apologised in a company-published message for being unfaithful to his wife and pledged to co-operate with an independent board inquiry into reports that he had been targeted by a foreign intelligence effort. - Nvidia's CUDA software ecosystem has helped establish its dominance in AI computing, even as rivals develop alternatives. Automobiles Kia India plans $2B investment in Andhra Pradesh Kia India has committed a combined investment of $2 billion, along with its supplier partners, to set up its second manufacturing facility in Andhra Pradesh. The company said the project would also help build India's manufacturing base, generate employment, and support the wider auto industry. Key takeaways: - The factory will be located in Anantapur, the same district that houses Kia's current plant. - Kia India is targeting early 2030 for production to begin, with the plant carrying out stamping, welding, painting and assembly. - Kia and its suppliers will together occupy 465 acres on the new site. The company expects the facility to support roughly 12,000 jobs, both direct and indirect. News & updates - Deeptech hub: Keralam wants to build its startup ecosystem and lead from the front, especially in deeptech and AI. At the inauguration of Huddle Global 2026, a beachside startup festival of the Keralam government, Chief Minister V D Satheesan said, “Our next task is to take Kerala's companies to the world. Kerala does not need the most startups. It must be the place where startups grow stronger.” - Funding: Investment platform Canonicus Capital has announced the first close of its Special Situations Fund at Rs 192 crore, against a target corpus of Rs 500 crore. Launched in 2025, the Special Situations Fund builds on the work of Canonicus Capital's Fund I through which it had raised and deployed Rs 311 crore. What name was given to the small robotic rover deployed onto the lunar surface by ISRO's Chandrayaan-3 lander in August 2023? Answer: Pragyan We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]. If you don’t already get this newsletter in your inbox, sign up here. 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