A key lesson advocated in the 1980s management bestseller In Search of Excellence advised leaders to “stick with your knitting” and remain “only with the businesses you know best.” That insularity may have hurt adaptiveness a generation ago and is surely not the wisdom for the AI generation. Two weeks ago, Nvidia founder Jensen Huang revealed to 175 top CEOs across industries how he tossed out his business plans not once but twice to embrace disruptive new advances on the frontiers of technology, drawing upon the model of his idol, Michael Dell.

And Huang’s idol could not help but praise the Nvidia CEO for his performance leading the organization to the forefront of global business. Dell was among the industry titans who joined us at our 154th Yale Chief Executive Leadership Institute CEO Forum to discuss how they manage strategic innovations as AI continues to evolve quickly.

“Jensen and Nvidia—this is not an understatement—they are driving the most important change in progress that is occurring in our entire world right now,” Dell said.

To close the event, Dell, along with Salesforce CEO Marc Benioff and IBM CEO Arvind Krishna, presented Huang with the “Legend in Leadership” award in recognition of his unmatched success.

But what often receives less recognition is the source of Huang’s accomplishments: the ability to adapt and the humility with which he continues to lead, even after all his triumphs. Our interaction with him quickly revealed how unique a leader he is.

Making new beginnings everyday priorities

In the 1980s, Intel cofounder Andy Grove warned that “only the paranoid survive,” suggesting key inflection points in strategic decision making. These days, Huang says that this fluid mindset is daily and not episodic. Now battling with Microsoft to claim the title of the world’s most valuable company by market capitalization, Nvidia stock has increased nearly tenfold since the introduction of ChatGPT in November 2022. Revenues have boomed from approximately $27 billion in fiscal year 2023 to over $130 billion in fiscal year 2025, driven by unprecedented demand for accelerated computing and AI.

Benioff described Huang as someone who predicted that “the future of Nvidia and the future of our industry would be AI.” He added, “No one else could see that…It was vision. It was clarity. It was purpose. [Jensen] is incredible.”

Since Huang cofounded Nvidia in 1993, the company has worked relentlessly to pioneer accelerated computing. Its first major success came when it revolutionized the gaming industry with the popularization of graphics processing units (GPUs) to improve computer graphics. That laid the foundation for modern AI and led the organization to eventually power much of the world’s AI factories and infrastructure, rewiring industry, technology, and aspects of society.

Nvidia was founded with a contrarian perspective to “reinvent computers,” as Huang told leaders at the CEO summit. Instead of replacing general-purpose computing, as many aimed to do at the time, Huang and his cofounders believed it would be wiser to augment it. “It turned out we were right,” he modestly quipped. The gamble paid off, allowing the chip producer to lead in GPUs.

Then, more than 15 years later, in 2010, Nvidia pivoted after discovering that its CUDA programming model could be adapted to solve deep learning problems. “The great observation that we made was…the approach of deep learning was quite generalizable,” Huang continued. “We imagined what would happen if we were to scale this problem and ultimately imagined what could be done if unsupervised learning, where every single piece of data doesn’t have to be human labeled, were to be discovered.”

Nvidia and AI reimagined—again

He did not stop there. Eight years later, Nvidia adapted again. The final “great observation” Huang and his team made was that “AI is really about a whole new industry,” as he told us. It was an industry likely to “transform every industry…like electricity…And that’s in a lot of ways why I’m here.”

Reflecting on his success, Huang shared what led him and Nvidia to where they are today: “We had the courage to break the problem down step by step and reinvented everything about our company and everything about how computing was done.”

Perhaps Huang’s most admirable attribute, however, is his humility. He began his remarks by thanking Benioff, Krishna, and Dell for presenting his award, calling them “heroes of mine.” He consistently credited his cofounders and the team at Nvidia during his comments. And he closed by again paying tribute to his three award presenters, crediting them as having “been so instrumental in shaping the computer industry that we know today.”

Rarely do leaders as successful as Huang possess the ability to adapt seamlessly, lead effectively through periods of disruption, and publicly recognize the contributions of other industry titans who came to prominence before them.

Reflecting on Huang’s pivot, IBM’s Krishna told the gathered CEOs, “Pivoting the whole company away from what had made [them] money for over 20 years…that takes courage beyond vision…[only he had] the fortitude, the grit as well as the brilliance to be able to get there.”

The Nvidia CEO’s success suggests it’s time to toss out the management mantras of the 1980s. As baseball’s philosopher coach warned back then, “The future ain’t what it used to be!”

Jeffrey Sonnenfeld is the Lester Crown Professor in Management Practice and president and founder of the Yale Chief Executive Leadership Institute. Stephen Henriques is a senior research fellow at the Yale Chief Executive Leadership Institute and a former McKinsey & Co. consultant.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.