--- author: New York Times Podcasts date: '2026-11-12' guest: '' layout: post.njk source: https://www.youtube.com/watch?v=fpbRe5LPNsU speaker: New York Times Podcasts tags: - artificial-intelligence - corporate-governance - semiconductor title: 英伟达CEO黄仁勋辞职：涉违反行为准则与AI产业未来 summary: 在《纽约时报》披露英伟达CEO黄仁勋与下属高管存在亲密关系后，董事会召开紧急会议商讨其去留。此前黄仁勋刚因涉嫌与供应链女性的关系引发争议。英伟达随后宣布由CFO科莱特·克雷斯担任临时CEO，公司股价开盘大跌约11%。 insight: '' draft: true series: '' category: tech-trends area: tech-engineering project: [] people: - Jensen Huang - Kimberly Powell - Colette Kress companies_orgs: - Nvidia - The New York Times products_models: [] media_books: [] status: evergreen --- **Michael Barbaro**: 这里是《纽约时报》，我是迈克尔·巴巴罗（Michael Barbaro）。[音乐] 这是《The Daily》。[音乐] 今天，在《纽约时报》发布最新披露报道后，英伟达（Nvidia）首席执行官、身处人工智能革命风暴中心的领军人物黄仁勋（Jensen Huang）辞职了。随着英伟达董事会通宵达旦地权衡黄仁勋的去留，[音乐] 我与同事特里普·米克尔（Trip Mickle）就针对黄仁勋行为的最新报道，以及他的离职可能对人工智能未来产生的影响展开了交流。[音乐] 今天是11月12日，星期四。 特里普，我们没想到这么快又在节目中见到你。
Original English From the New York Times, I'm Michael Aubaro. [music] This is the daily. [music] Today, after new revelations from the Times, Jensen Wong, the CEO of Nvidia [music] and the man at the center of the AI revolution, has resigned. As Nvidia's board wrestled with Wong's fate overnight, [music] I spoke with my colleague Trip Mikkel about the new reporting on Wong's [music] conduct and what his ouster could mean for the future of artificial intelligence. [music] It's Thursday, November 12th. Trip, we did not expect to have you back on the show this soon.
>> 呃，事情进展得比任何人的预期都要快得多。嗯，我也对这么快就回来感到惊讶。
Original English >> Uh, this has moved much faster than anybody expected it to. Um, and I'm surprised to be back as well.
>> 嗯，进展这么快，部分原因正是你以及你和同事们所做的调查报道。此时此刻，在美东时间凌晨12点30分，英伟达的董事们正在结束一场可能是企业历史上备受瞩目的紧急董事会。他们正在决定公司首席执行官黄仁勋的命运。这个未来现在似乎处于极其严重的危险之中。我知道在我们这期节目于美东时间早上6点发布时情况可能会发生变化，但在当前这个时刻，关于董事会的讨论进展，我们了解到了什么？
Original English >> Well, it's moved fast in part because of you and the reporting you and our colleagues are doing. And at this moment, at 12:30 a.m. Eastern time, Nvidia's directors are finishing up what may be one of the most closely watched emergency board meetings in corporate history. And they are sorting out the fate of the company's CEO, Jensen Wong. A future that now appears to be in grave, grave danger. And I know that things might change by the time our episode publishes at 6:00 a.m. Eastern time, but at this particular moment, what do we know about where the board's deliberations are?
### 紧急董事会与两起违规关系披露 >> 我们知道，在这届英伟达董事会任职已久的10名成员，正在艰难权衡一个他们原以为永远不需要做出的决定。那就是黄仁勋是否不仅不应继续领导公司——我们的报道表明这已不可能发生——甚至未来是否还应在公司保留任何职位。这是他于1993年在丹尼餐厅（Denny's）联合创立的公司。因此，对这10个人来说，这确实是一个不可思议的时刻。从你的表述来看，
Original English >> We know that 10 people who are serving on this NVIDIA board that have been there a long time are wrestling with a decision they never thought they would have to make. And that's whether or not Jensen Wong should not only continue to lead the company, which our reporting suggests will not happen, but should even have a role at the company going forward. This is the company he co-founded in a Denny's in 1993. So, it's a it's really an unimaginable moment for this group of 10 people. And from what you're saying,
>> 他们正倾向于这样一个结果：他不再担任自己创立的这家公司的首席执行官。毫不夸张地说，这家公司正处于AI繁荣的核心、AI革命的核心，也是全球经济的核心。
Original English they are leaning towards an outcome in which he is no longer chief executive officer of the company he founded. This company, not an overstatement to say, is at the heart of the AI boom, the heart of the AI revolution, the heart of the global economy.
>> 是的，他们正倾向于这样一个结果：将这个在很大程度上已成为全球AI代言人、被视为人工智能指挥大师的人，从AI浪潮中最重要的公司的领导岗位上撤下。
Original English Yes, they are leaning towards an outcome that would take the man who has very much become the face of AI around the world who's perceived to be the maestro of artificial intelligence and removing him from leadership of the most important company in in the AI movement.
>> 好的。跟我们讲讲这个看似不可思议的结果是如何一步步发生的。就在几天前你做客节目与我的搭档阿里·基塔夫（Ali Kitarf）交谈时，你还说黄仁勋的未来看起来相对安全。我们是怎么走到现在面临如此严重质疑的地步的？
Original English >> Okay. will tell us how this seemingly unimaginable outcome. Just a few days ago when you were on the show talking to my co-host Ali Kitarf, you said that Jensen Wong's future seemed relatively safe. How do we get to this point where it's now in such serious doubt?
>> 最近几天，实际上是一周多以来，我们一直在追踪一条线索，称黄仁勋与公司内部的一位高管、他的直属下属存在关系。
Original English In recent days and really more than a week, we've been tracking a a tip that Jensen Wong had had a relationship with an executive at the company, one of his direct reports.
>> 嗯，那基本上意味着第二段与他人的浪漫关系，而且这次是同事。在这种情况中，这将是短短几天内浮出水面的第二起违反公司行为准则的事件。第一起违反行为准则是因为与供应商存在亲密关系——也就是我们广泛报道过的那位女性，Megape公司的黄爱丽丝（Alice Wong），美国情报机构已认定她是间谍。
Original English >> H that would basically be a second romantic relationship with somebody, in this case, a colleague. In this case, it would be a second breach of the company's code of conduct to come to light in a matter of days. The first being a breach of the code of conduct for having an intimate relationship with a supplier, the woman who we've written about extensively, Alice Wong at Megape, who US intelligence has determined is a Chinese spy.
>> 对吧？
Original English >> Right?
>> 这将是完全不同的一件事。周三上午，我和同事瑞安·麦克（Ryan Mac）及佐治亚（Georgia）认为我们掌握的报道线索已经足够充实，可以推进发布关于这第二段亲密关系的报道了。
Original English >> This would be a totally different thing. And on Wednesday morning, my colleagues Ryan Mack in Georgia and I decided that we had enough reporting to move forward with a story about this second intimate relationship.
>> 好，给我们讲讲根据你们的报道，黄仁勋与之保持这第二段亲密关系的这位女性是谁。
Original English >> Okay. And tell us about who this woman is, who Jensen Wong had, according to your reporting this intimate relationship with the second woman.
>> 第二位女性是他领导团队中的一名高管。她的名字叫金伯利·鲍威尔（Kimberly Powell）。她负责管理医疗健康业务部门。金伯利自2008年起就在公司工作。在各种会议和活动中，她经常随同黄仁勋及其随行团队一同出行。根据我们的报道，在最近于圣何塞举行的年会上，两人有一段亲密举动，被某人用手机拍了下来，随后英伟达安保人员上前让拍摄者签署了一份保密协议（NDA）。
Original English >> The second woman is an executive on his leadership team. Her name is Kimberly Powell. She leads their medical and healthc care group. Kimberly's been with the company since 2008. She is often traveling with Jensen and his entourage at conferences and events and things like that. And according to our reporting at their recent annual conference in San Jose, the two of them were in an affectionate moment that someone caught on camera with their phone and that Nvidia security came over and got the person to sign an NDA.
>> 哇。
Original English >> Wow.
>> 那一刻的亲密表现。所以公司的安保团队当时就知道有人注意到了黄仁勋和这位女高管之间某种似乎不太合适的举动，并要求对方签署一份文件，承诺绝不向任何其他人分享该信息。
Original English >> That moment of affection. So the company's security team would have understood that somebody noticed Jensen Wong and this female executive in some sort of moment that felt perhaps not quite right and asked someone to sign a document saying that they would never share that information with anybody else.
>> 没错。正是这样。
Original English >> That's right. That's right.
>> 而且这位高管既然黄仁勋是CEO，理应向他汇报。他们究竟是什么汇报关系？
Original English >> And this executive presumably since Jensen Wong is the CEO somehow reports to him. What exactly is their relationship?
>> 她是公司直接向黄仁勋汇报的60位直接下属之一。我们大家都知道，在人力资源（HR）领域，首要大忌之一就是不能与直接向你汇报的人建立亲密关系，
Original English She's one of 60 direct reports at the company who report directly to Jensen Law. And as we all know in in the world of of HR, one of the kind of cardinal sins in the HR world is you don't have a relationship, a close relationship with somebody who directly reports to you,
>> 对吧？事实上，大多数公司明确禁止这种关系，因为其中涉及权力不对等，上司在理论上显然有能力强迫下属建立恋爱关系。我们知道英伟达是否有这种明确禁止的政策吗？
Original English >> right? In fact, most companies expressly forbid this kind of relationship because of the power dynamic at play with a boss being obviously capable of in theory coercing a subordinate into a romantic relationship. Do we know if Nvidia has that kind of expressly forbidden policy?
>> 我们知道他们的行为准则规定，英伟达的员工应当“避免我们的行为造成利益冲突的情况，包括‘个人关系’”。公司还声明，对于此类不当行为的任何报告，公司都会迅速展开调查。
Original English We know that their code of conduct says that employees at NVIDIA are supposed to quote avoid situations where our actions create conflict, including quote personal relationships. And the company states that it promptly investigates any reports of that kind of misconduct.
>> 好的。那么，在这段关系被你们发现之前，英伟达管理层是否已经知情？
Original English >> H Okay. So, did this relationship make its way to Nvidia's leadership before you found out about it?
>> 据我们所知并没有。
Original English Not that we're aware of.
>> 好的。那么一旦公司大概通过你们的报道得知了这一关系，据你了解之后发生了什么？
Original English >> Okay. So once the company learns presumably through your reporting about this relationship, what do you understand to have occurred?
>> 据我了解，后续的发展是：在公司收到我们的问询、得知我们正在推进报道后，董事会接到了通知；紧接着，他们在当天结束前召开了会议，讨论并审议黄仁勋是否应继续领导公司。
Original English What I understand played out after that is that after the company uh got our inquiry and knew that we were moving forward with a story that the board was notified and fast forward they're having a meeting by the end of the day to discuss and deliberate over whether or not Jensen Wong should continue to lead the company.
### 为何英伟达董事会深陷抉择困境 >> 请帮我理解一下为什么这需要这么长时间的商议。我做过商业记者，在那期间我目睹过麦当劳、英国石油（BP）等一个接一个的CEO基本上都因与下属发生类似关系而被立即解雇。
Original English >> Help me understand why this requires so much deliberation. I have been a business reporter and in that time I watched CEO after CEO after CEO from McDonald's to BP be pretty much sumearily fired for this very kind of relationship with a subordinate.
>> 是的。为什么会引发如此深入的商讨？我的意思是，这家公司就是黄仁勋本人，对吧？整家公司都是围绕着他的领导力、他的远见建立起来的，而且公司的架构也导致根本没有明确的继任者。对吧？当你有60个人直接向你汇报时，是的，你可以从这些人中抽调某个人，由他们在黄缺席时代领公司，但这不是诸如——例如，我过去常年报道苹果公司。比如苹果在史蒂夫·乔布斯（Steve Jobs）即将去世时，他拥有大约六位深受信任的得力副手随时可以接管公司。当时很清楚，即便不是蒂姆·库克（Tim Cook），也可以是斯科特·福斯托尔（Scott Forstall），即便不是斯科特·福斯托尔，也可以是比尔·席勒（Bill Schiller，注：应指菲尔·席勒）。公司里就是有一批有能力带领公司前行的人才。而英伟达在外界眼中却完全不是这样，因为外界对英伟达的认知就是：黄仁勋就是那位富有远见的人。黄仁勋为公司定下基调，黄仁勋推动着公司的创新，而且黄仁勋是整个科技界最大、甚至可以说是最优秀的推销员。正是他帮助说服了全世界这些芯片不仅极具价值，还推动这些芯片在AI芯片领域占据了90%的市场份额。
Original English >> Yeah. Why does it cause this much deliberation? I mean this company is Jensen Wong, right? I mean it is built around his leadership, his vision and the structure of the company makes it such that there's not a clear successor at all either. Right? When you have 60 people reporting to you, yes, you could pull somebody from those ranks and they could lead the company in his absence, but this isn't something like take for example, I used to cover Apple for a lot of years. like Apple when Steve Jobs was about to die, he had, you know, something on the order of like six very trusted lieutenants that were in position to take over that company. I mean, it was clear that if it wasn't Tim Cook, it could have been Scott Foresttoall, if it wasn't Scott Forstall, it could have been Bill Schiller. I mean, there were just a number of people at the company that had the wherewithal to lead that company forward. And that's just not something that's known about Nvidia because what's known about Nvidia is Jensen Wong is the visionary. Jensen Wong sets the pace for the company. Jensen Wong drives its innovation. And Jensen Wong is its biggest and arguably the best salesman in all of technology. He's the one who's helped, you know, persuade the world that these chips are not only so valuable, but helped make these chips into something that enjoys a 90% market share. in the AI ship world.
>> 你的意思是，就董事会已经走到可能准备、甚至或许已经准备好将他推向一旁并罢免其CEO职务的程度而言，在达成这一决定的过程中，他们很可能感到极度痛苦、不情愿与煎熬。
Original English >> You're saying to the degree that the board has gotten to the point where it may be ready and perhaps already is ready to push him aside and knock him off as CEO, it has been probably pained and reluctant and agonizing as it gets there.
>> 他们必须接受一个董事会成员从未想过会成为现实的可能性。这对该董事会来说是一个极其重大的决定，过去三年他如火箭般飞速上升。直到所有这些问题行为突然暴露在公众视野之前，他字面意义上是不会犯错的。
Original English >> It has to come to terms with a possibility that no one on this board ever thought would be a reality. I mean, this is a this is a monumental decision for this board, and he's been on a rocket ride the past three years. He could literally do no wrong until all the sudden all this problematic behavior spilled out into public view.
>> 没错。如果黄仁勋真的被免去CEO职务，耐人寻味的是，在消化了他曾与据美国官员称向中国政府输送信息的人员存在恋爱关系这一事实之后，最终可能让他丢掉工作的，竟然是与一名普通员工而非间谍的这第二段关系。
Original English >> Right. And what may be fascinating if in fact Jensen Wong is ousted a CEO is that after digesting the fact that he had had a romantic relationship with a according to US officials Chinese spy who funneled information back to the Chinese government it may end up being this other second relationship with an employee not a spy that may end up costing him his job.
>> 是的。我认为这里的部分问题在于，董事会正在承受连续两记重击，这必然会让他们怀疑，
Original English >> Yes. And I think part of the problem here is the board is dealing with a one-two punch that must make them wonder
>> 这是否还不一定是故事的终点。
Original English >> if this is not necessarily the end of the story.
>> 是的。
Original English >> Yeah.
>> 是的。
Original English >> Yeah.
>> 这是一个令人不安的深思点。[音乐] 他们正在制造我们这个时代最复杂、最重要的技术，[音乐] 这不仅对他们重要，对经济重要，对我右手边街角的OpenAI和左手边街角的Anthropic重要，
Original English >> Which is a a troubling thing to ponder. [music] They're making the most complicated and most important technology of our time [music] that is like not just important to them and not just important to the economy and not just important to open AI, you know, down the street to my right and anthropic down the street to my left,
>> 而且对美国政府也很重要，
Original English >> but also important to the US government
>> 对美国经济的潜力和繁荣也很重要。这些是人工智能运行的轨道，[音乐] 正是它让美国在人工智能发展中取得了可观的领先优势、享受并维持着相对中国的领先。这就是为什么对董事会来说，推进这个决定是如此艰难。[音乐]
Original English >> and the potential and prosperity of the US economy. These are the rails on which artificial intelligence run [music] and it's what has allowed the US to take a sizable lead and enjoy a lead and sustain that lead over China in the development of artificial intelligence. And that's why for the board this is such a difficult decision to move forward on. [music]
### 继任场景、信任危机与对华芯片政策 >> 我们马上回来。
Original English We'll be right back.
>> 特里普，让我们设想一个黄仁勋不再担任英伟达CEO的世界。带我们梳理一下可能出现的情景。他会以某种方式留在公司吗？听起来董事会似乎希望找到某种途径让这种情况成为可能。毕竟目前没有任何地方写明了完备的继任计划。也许他能留下来帮助制定计划。还是说更有可能的是，他需要与这家公司彻底解绑？
Original English Trip, let's envision a world in which Jensen Hong is no longer the CEO of Nvidia. Just walk us through the scenarios in which that happens. Does he somehow remain at the company? It sounds like the board would like to find a way perhaps for that to happen. there isn't a [clears throat] huge succession plan written anywhere. Maybe he gets to stick around and help develop that. Or is it more likely he needs to be completely untethered from this company?
>> 我们正处于前所未有的未知领域，这个问题无法给出一个确定的答案。我非常庆幸自己不是那10位董事之一。我们来做一下分析，对吧？基于我们对目前情况的了解。如果他留下来，他们按理可能会物色一位长期执掌公司的新首席执行官，并设立一名临时CEO协助公司在为期数月的物色期间掌舵。如果他还在公司，全公司的人会仰望谁？
Original English >> We are in such uncharted waters that this is an impossible question to answer. And I am so glad I'm not one of those 10 people. I mean, let's just do analysis here, right? And just what we know about this circumstance. if he stays and they conceivably do a search to find a new chief executive to lead the company long term and they install an interim to help the company navigate the next several months while that search plays out. If he's still there, who is everybody at the company going to look up to?
>> 他们会找谁来做决策？
Original English >> Who do they turn to to make decisions?
>> 还是会去找他，而不是临时CEO，
Original English >> It would be him, not the interim CEO,
>> 对吧？所以这可能会削弱临时CEO的威信。它可能会给任何新任CEO以及整个遴选过程带来挑战，对吧？别人会想：“如果我接下这份工作，黄仁勋会做什么？他还会留在那里吗？”然后还有信任问题，对吧？之所以演变成信任问题，是因为当我们最初报道美国情报监控发现黄仁勋与那位新加坡数据中心公司高管兼中国公民女性保持亲密关系时，黄仁勋曾公开向彭博新闻社（Bloomberg News）正式表态，声称那只是正常的商业往来。事实证明并非如此。是的，
Original English >> right? You know, so it could undermine the standing of the interim CEO. It could create challenges for any incoming CEO and for like the search process, right? Well, what's Jensen going to be doing? Like is he still going to be there if I take this job or not? And then there's also the question of like trust, right? The reason that this has become an issue of trust is that when we did our first report about US surveillance discovering that Jensen had a close relationship with this woman who was a Chinese citizen and the executive at the Singaporean data center firm. Jensen went to Bloomberg News and told them on the record that it was just a normal business relationship. That has turned out not to be true. Yeah,
>> 那被证实不是真的。我是说，他在不到两周的时间里，给全公司发邮件承认自己有了婚外情、对妻子不忠。
Original English >> that proved not to be true. I mean, he sent an email to the entire company telling them that he'd had an affair and been unfaithful to his wife. That that was in the span of I don't know, less than two weeks.
>> 这似乎成了彻底斩断关系的理由。
Original English >> That would seem to be the case for a clean break perhaps.
>> 是的，确实如此。而且我们甚至还没有讨论这对华盛顿方面的影响，以及英伟达在向中国销售芯片问题上的立场和美国政府的相关政策——该政策一直在朝着黄仁勋希望的方向发展，即允许并批准向中国销售部分芯片。你我过去几年多次讨论过这个问题。相比国会许多人的看法以及特朗普政府内部很大一部分派系的观点，他持有一种截然相反的战略主张。对吧？
Original English >> Yeah, it would. And we haven't even talked about the implications for Washington and Nvidia's position on selling chips to China and the US government policy on that which has been moved in the direction that Jensen Wong wanted which was permitting and allowing the sale of some chips to China. You and I know we've talked about this many times over the past couple of years. He has a contrarian view of what the US government's strategy should be relative to what many people in Congress believe and what a large faction of the Trump administration believes. Right?
>> 嗯，许多人认为我们应该切断向中国供应这种技术，以便美国保持在人工智能领域的领先地位。而黄仁勋认为应该把这些芯片卖给中国，这样美国芯片公司（主要是英伟达）才能通过在中国赚钱、与中国企业竞争，从而保持领先地位。对。他的观点占据了上风，他极具说服力地让特朗普政府相信应该向中国销售这些芯片。特里普，我猜你接下来想说的是，如果黄仁勋突然彻底离开英伟达，那么推动向中国销售芯片的最有力、最有说服力的主倡者可能就不复存在了。这项政策或许会发生改变。
Original English >> Um many people think that we should deprive China of that technology so that the US can keep a lead in artificial intelligence. Jensen believes that those chips should be sold to China so that the US chip companies, namely Nvidia, can stay ahead of the Chinese companies by making money in China and competing against Chinese companies. Right. And his view has prevailed. He's persuasively argued to the Trump administration that those chips should be sold to China. I'm guessing where you're headed here, Trip, is that if Jensen Hang is suddenly gone entirely from Nvidia, the most powerful, persuasive proponent of that case for selling chips to China might not be making that case anymore. Perhaps that policy changes.
>> 确实如此。
Original English >> Exactly.
### 政府干预可能性与市场动荡 >> 嗯，这让我很想问问关于特朗普总统的事。我们谈过很多关于黄仁勋与总统极其密切的关系，我想知道这种密切关系会如何影响接下来的局面。在董事会考虑如何处理黄仁勋问题时，特朗普总统想要加以干预似乎完全不是不可能的事。
Original English >> Well, this makes me want to ask about President Trump. We've talked a lot about Jensen Wong's very close relationship with the president, and I wonder how that closeness might influence what comes next. It doesn't seem entirely outside the realm of possibility that President Trump might want to put his finger on the scale of this board's deliberations as it figures out what to do with Jensen Wong.
>> 考虑到英伟达对经济的重要性，再加上特朗普总统与黄仁勋的个人关系，几乎可以肯定未来我们会看到一条Truth Social发帖，总统会就董事会的决定结果表态。 你知道，我们内部讨论的一个问题是：是否存在这样一种可能，或者说一种机制，让美国政府持有英伟达的权益？我们看到政府对另一家芯片公司也做过类似的事情，
Original English >> Given Nvidia's importance to the economy, given President Trump's personal relationship with Jensen Wong, you can almost rest assured that there is a truth social post in our future with the president weighing in on the outcome of this board's decision. You know, one of the questions we found ourselves asking is, is there a world in which or a mechanism through which the US government could take an interest in Nvidia? We've seen it do that with another chip company as well,
>> 持有其财务股份。
Original English >> a financial stake in it.
>> 持有财务股份。嗯，我们一年前在英特尔（Intel）身上看到了这一点。美国政府目前持有英特尔10%的股份。
Original English >> A financial stake. Um, we saw that a year ago with Intel. The US government now owns 10% of Intel.
>> 当时之所以能够做到，是因为政府已经承诺向英特尔支付约100亿美元用于在美国扩建制造工厂，只是把这笔资金提前支付了。我们不知道在英伟达这里会有什么机制，但我们知道这是一届喜欢“躬身入局”、愿意积极入股企业的政府。为了让我和听众能够理解：对于如此赏识黄仁勋、大概希望他留任CEO的特朗普总统来说，美国政府持有英伟达的财务股份能起到什么推动作用？还是说这与黄仁勋是否留任毫无关系，仅仅是为了确保即使没有他，公司也能保持健康运转？
Original English >> Now, it was able to do that because it had already made a commitment to pay Intel about $10 billion for building out manufacturing plants in the US. and it just kind of pushed that money forward earlier than it would have otherwise. We don't know what the mechanism would be here, but we know this is an administration that likes to have skin in the game and is willing to be active in taking stakes in companies. Just so I understand, a listener can understand, for President Trump, who so very much likes Jensen Wong and presumably wants him to stay on as CEO, what would a US government financial stake in Nvidia do to advance that? Or would it have nothing to do with whether Jensen Wong stays on? It would just be to try to make sure the company remains healthy even without him.
>> 这将向市场发出一个信号，表明这家公司拥有美国政府的全力支持与背书。我不想在这里过多使用华尔街术语，但随着外界越来越感觉黄仁勋未来可能不再领导这家公司，华尔街一位顶级半导体分析师将英伟达的预期目标价从400美元下调到了200美元，
Original English >> It would be a sign to the market that this company has the full faith and backing of the US government. You know, I don't want to get into like Wall Street jargon here too much, but when there's a growing sense that Jensen may not be leading this company going forward, one of the leading semiconductor analysts on Wall Street cut what is called a price target where he thinks the stock could go based on its performance from $400 to $200,
>> 这仅比英伟达目前的交易价格高出27美元。几个月前这还是一家估值直逼6万亿美元的公司，而现在的估值是4万亿美元。因此，如果美国政府出面介入，至少能告诉全球以及美国的投资者，这家公司极具价值，我们正在做它的后盾，我们会确保它安然度过眼下的动荡风浪并重回正轨。嗯。英伟达董事会的下一步行动是什么，你预计何时能确切知道黄仁勋的最终命运？
Original English >> which is only $27 above where Nvidia is trading at the moment. I mean, this was a company that was on the cusp of being a $6 trillion company a few months ago and is now valued at $4 trillion. So, if the US government came in, it at least tells investors around the world, investors in the United States, that this company is valuable and we're standing be behind it and we'll make sure that it weathers, you know, the choppy waters here and and gets back on its feet. Mhm. [snorts] What are the next steps for Avidia's board and when do you expect to know for sure what Jensen Wong's fate's going to be?
### 后续调查、组织架构与AI泡沫的脆弱性 >> 董事会的当务之急是在未来的领导架构设置上做出直接决定。同时，它还必须履行对黄仁勋展开调查的承诺，并推进该项调查。他们本周早些时候聘请了来自沃奇尔·立普顿（Wachtell, Lipton）律所的一位律师负责调查，他是一位经验丰富的调查专家。因此该调查需要继续推进，而且他们预计需要启动高管物色流程，为一家芯片公司挑选一位新CEO，这不是一件容易的事。你必须找到一个既懂技术、又有领导大型企业经验的人，世界上这样的人选并不多，
Original English >> Uh the next step for the board is to make this immediate decision in terms of how it's going to set up the structure going forward in terms of the leadership structure. It's also has to fulfill its promise to investigate Jensen Wong and it needs to proceed with that investigation. They hired a lawyer earlier this week from WTEL Lipton to do the investigation. He's an experienced investigator. So that will need to proceed and they'll presumably need to run an executive search process and select a new CEO for a chip company, which is not an easy thing to do. I mean, you have to find somebody who's technically knowledgeable and also experienced at leading a large enterprise. And there are not that many people like that out there in the world,
>> 对吧？你的意思是完全不清楚长远来看谁能接替黄仁勋的职位。听起来董事会手头根本没有成形的候选人名单。
Original English >> right? You're saying it's not at all clear who would take Jensen Wong's place long term. It doesn't sound like the board necessarily has much of a list.
>> 没有。完全没有。我认为他们得从零开始。
Original English >> No. No. I mean, I think they'd be starting from scratch.
>> 如果黄仁勋被彻底逐出他的公司，真的存在影响AI未来的实质风险吗？他的缺席是否会放缓公司芯片的生产速度，进而减缓美国在AI领域的领先步伐？
Original English >> If Johnson Wong is completely forced out of his company, is there any real risk that it impacts the future of AI? that him not being there slows this company's production of these chips and therefore slows the pace of US supremacy and AI.
>> 我就这一困境——如果黄仁勋不在了会发生什么——询问过与英伟达有业务往来的公司，他们表示英伟达的高管梯队非常扎实强大，公司具有连续性，无论有没有黄仁勋，公司都能继续源源不断地生产出大家所习惯看到的芯片和技术。但确实需要有人进来审视领导架构，并以一种能与其他CEO协同运作的方式进行重组，
Original English The companies that do business with Nvidia who I talked to about this dilemma like what happens if Jensen's not there say that the leadership ranks at NVIDIA are solid and strong and that there can be continuity at this company that it can continue to crank out the kind of chips and technology that we're accustomed to seeing from it with or without Jensen. But it is going to take somebody to come in and look at the leadership structure and reorganize it in a way that can work with a different CEO
>> 因为这确实是一个由一个人为了自身管理风格而打造的组织架构，在他作为乐团指挥时运作良好。但全美没有第二家公司是这样构建的。这就引出了我的最后一个问题。在整个事件中有一点显得相当确定，那就是英伟达董事会从未为这一天做过打算，也从未敦促黄仁勋为面临严重危机、判断力受到质疑乃至可能需要撤换他的这一天做准备。而制定这种继任计划正是董事会的职责所在。那么，这是否让我们认识到，英伟达尽管取得了巨大的成功，在全球经济中拥有非凡的影响力和地位，但其实并未完全准备好成为它如今在全球经济中蜕变而成的庞然大物？
Original English >> because this was really a structure in an organization that was developed by one man for his own purposes and it worked with him as the, you know, as the conductor of the orchestra. But there's no other company in the country that's structured this way. Well, that brings me to my final question. One thing in this whole saga feels quite certain, which is that Nvidia's board did not plan for this day and did not push Jensen Wong to plan for this day where he might be in serious trouble and this judgment will be called into question and that they might need to get rid of him. And that is the job of a board of directors to come up with that kind of succession plan. And so are we learning that Nvidia for all its success and its extraordinary influence and place in the global economy wasn't quite ready to be the company that it has become in our global economy?
>> 是的。更雪上加霜的是，除了缺乏能够轻松渡过难关的内部架构之外，这家公司还将自己置于整个人工智能繁荣的风暴中心。他们一直在投资初创企业，一直在资助数据中心的扩建，一直在为帮助建设数据中心的金融机构提供支持。他们一直在全速踩油门推动这一切运转，而现在，那个踩下油门的关键人物可能要从方程式中被剔除了。这就引出了一个问题：一直以来我们都在思考什么会导致AI泡沫破裂，我们追问过那些未能发挥潜力的初创公司，追问过
Original English >> Yes. And making matters worse, you know, in addition to not having the internal structure to get through some of this easily is the fact that the company has put themselves at the epicenter of the entire AI boom. I mean they have been investing in startups. They have been funding data center buildouts. They have been backstopping financeers who are helping build data centers. they have been putting their foot on the gas and making this entire thing go and now the guy who was the main guy putting the his foot down may be pulled out of the equation and that begs the question if over all this time and we've been thinking about you know what could make the AI bubble burst and we've asked about you know startups that don't fulfill on their their potential we've asked about
>> AI智能体失控失序，
Original English >> AI agents going rogue
>> AI智能体失控，以及由于禁令或政策导致数据中心无法建成。[音乐] 如果这一切最终居然都归结于一位高管的不当判断呢？[音乐]
Original English >> AI agents going rogue data centers not being built because of moratorium and policy. [music] What if it actually all comes down to one executive's poor judgment? [music]
>> 好的特里普，去睡上一觉吧，我们很快再聊。非常感谢。
Original English >> Well, Trip, get some [snorts] sleep and we'll talk to you soon. Appreciate it.
>> 非常感谢。[音乐]
Original English >> Thanks so much. [music]
>> [音乐]
Original English >> [music]
### 临时管理层任命与新闻简讯 >> 周四上午，英伟达董事会在一份声明中表示，公司首席财务官[音乐]科莱特·克雷斯（Colette Kress）将担任临时首席执行官，直到确定黄仁勋的正式继任者。 数小时后股市开盘时，英伟达股价重挫约11%。[音乐] 我们马上回来。[音乐] [音乐]
Original English >> In a statement on Thursday morning, Nvidia's board said that the company's chief financial officer, [music] Colette Crest, would serve as interim chief executive until a permanent successor to Jensen Wong, is named. When the stock market opened a few hours later, Nvidia's share price plunged by about 11%. [music] We'll be right back. [music] [music]
>> 以下是今天您还需要了解的其他要闻。
Original English >> Here's what else you need to know today.
>> 上帝不想让我们轻轻松松地得到它。
Original English >> God didn't want us to get it the easy way.
>> 他希望我们以密西西比的方式赢得它。在经历了一周多的计票后，[音乐] 民主党人斯科特·科隆（Scott Colom）在周三晚间被宣布赢得密西西比州的联邦参议员席位，使他成为近150年来该州首位黑人参议员，也是该州数十年来首位民主党参议员。[音乐] 他以微弱优势战胜了现任共和党参议员辛迪·海德-史密斯（Cindy Hyde-Smith），突显出民主党今年在得克萨斯、爱荷华和[音乐]堪萨斯等传统共和党重镇取得了多么巨大的胜利。民主党目前在美国参议院拥有55个席位的多数优势。
Original English >> He wanted us to get it the Mississippi way. On Wednesday night, after more than a week of vote counting, [music] Democrat Scott Cologne was declared the winner of the US Senate seat in Mississippi, making him the first [music] black senator from the state in nearly 150 years and the state's first Democratic senator in decades. [music] His narrow victory over incumbent Republican Cindy Hyde Smith highlights just [music] how much success Democrats had this year in heavily Republican states, including Texas, Iowa, and [music] Kansas. Democrats now have a 55 seat majority in the US Senate.
>> 这不是我一个人做到的，各位。这是我们大家一起做到的。[掌声和欢呼声] 我所做的只是有勇气去构想这样一个夜晚。[音乐]
Original English >> It's not something that I did, y'all. It's something that we did. [applause and cheering] All I did was have the courage to imagine a night [music] like this.
>> 我有勇气去相信密西西比。
Original English >> I had the courage to believe in Mississippi.
>> 我有勇气去懂得我们可以向全国证明：密西西比举足轻重。[音乐]
Original English >> I had the courage to understand that we can show the country that Mississippi [music] matters.
**Michael Barbaro**: 本期节目由戴安娜·韦恩（Diana Wyn）和埃里克·克雷普基（Eric Krupke）制作，马克·乔治（Mark George）编辑，音乐由丹·鲍威尔（Dan Powell）和玛丽安·洛扎诺（Marian Lozano）创作，阿莉莎·莫克斯利（Alyssa Moxley）负责工程制作。我们的主题音乐由Wonderly创作。特别鸣谢艾伦·格里菲思（Aaron Griffith）。[音乐]
Original English Today's [music] episode was produced by Diana Wyn and Eric Krepky. It was edited by Mark George, contains music by [music] Dan Powell and Marian Lozano, and was engineered by Alyssa Moxley. Our theme [music] music is by Wonderly. Special thanks to Aaron [clears throat] Griffith. [music]
>> 以上就是今天的《The Daily》。我是迈克尔·巴巴罗。明天见。
Original English >> That's it for the daily. I'm Michael Obara. See you tomorrow.