Nvidia's longtime CEO Jensen Huang is out, and it's a shock for investors even though the company should be fine long-term.

• Huang resigned as CEO, president, and board member; CFO is stepping in as interim CEO while the board searches for a permanent replacement.
• Nvidia stock dropped sharply on the news, dragging the broader tech market down with it.
• Elon Musk publicly offered to hire Huang, and SpaceX shares ticked up on the speculation he could end up there, tied to Musk's chip-supply ambitions.
• The move looks like fallout from a second policy violation rather than performance, with pressure also building from lawmakers scrutinizing Nvidia's China dealings.
• Comparisons are being drawn to Apple after Steve Jobs left, where the company kept growing for years without him.

Outlook: Expect short-term volatility in Nvidia and tech stocks while a permanent CEO search plays out, with investors watching whether this becomes a buying opportunity.