Nvidia's announced investments in four French companies remained in place following Jensen Huang's departure as chief executive, Roxanne Varza, director of Paris technology incubator Station F, said in a Bloomberg interview.
Two of the companies were startups at the incubator and another was a partner, Varza said on Bloomberg Tech: Europe, published Nov. 13. She said she knew of no withdrawal of those commitments.
Huang had announced the investments during a European tour last month that included Paris, Stockholm, London and Berlin. His departure followed those announcements, leaving founders to assess what the leadership change meant for their businesses.
Varza said the speed of events and the amount of speculation made it difficult to judge what would happen next. She described her initial reaction to the departure as surprise.
She had spoken with many founders and heard mixed reactions. Respect for what Huang had built persisted, she said, while the timing of the investment announcements had helped limit fears about funding.
“None of that has been put into jeopardy,” she said of the announced investments. Her assessment concerned the commitments already made, rather than a promise about Nvidia's future investment decisions.
Founders were also discussing the risks of building a company whose identity was closely bound to one person. Nvidia's close association with Huang had made that question more immediate for people building their own businesses.
Varza said those conversations included how founders could avoid a similar dependence as their companies grew. She described the damage to Nvidia as reputational and said she did not think its business was at risk for the moment.
Asked specifically whether she had heard concerns about Nvidia reducing its financial support or withdrawing investment pledges, she answered: “No.” She then identified the French investments and their connections to the incubator.
Founders were also discussing whether the upheaval created opportunities for Europe. Varza did not identify a specific opportunity before the conversation turned to Europe's dependence on Nvidia's chips and software.
Huang had discussed the responsibilities of leadership in an Oct. 14 interview filmed in London for The Circuit. “You have to have high standards and expectations,” he said. “I'm responsible for an entire industry.”
He also said a chief executive's position could not be taken for granted. Varza's remarks left open whether Nvidia would change future funding plans or whether European alternatives could reduce dependence on its technology.
