Nvidia Investors Ask Board to Weigh Possible Return of Jensen Huang

Two major Nvidia shareholders want the company's board of directors to look at all choices for future leadership, including the potential return of Jensen Huang. Altimeter Capital CEO Brad Gerstner posted an open letter on X on Friday urging a slow and deliberate process for choosing new leadership. Atreides Management's Gavin Baker also signed the letter.

Holdings and Interim Leadership

Nvidia was Altimeter Capital's largest equity holding based on its most recent SEC filing, with a 9.4 million-share stake valued at nearly $1.9 billion as of June 30. Atreides held 1.2 million shares worth nearly $250 million at the same time. The letter notes that Nvidia will be led by interim CEO Colette Kress. Kress spent 13 years as Nvidia's CFO before the board announced on Thursday that she would take over in Huang's absence. The letter does not demand an immediate return for Huang, but states that the longtime leader has earned a careful process that avoids any rush.

Resignation and Investigations

Jensen Huang resigned on Thursday following multiple affair allegations. One allegation involves a suspected Chinese spy named Alice Huang, who also worked with the Nvidia customer Megaspeed. The Justice Department is investigating the Singapore-based Megaspeed over the possible redirection of restricted AI chips to China. SpaceX CEO Elon Musk stated on X on Friday that he signed a petition called "Stand with Jensen" asking to bring Huang back. The online petition claims to have over 100,000 signatures, including more than 5,000 current Nvidia employees. Musk also posted on Saturday that losing Huang could cause the company to lose critical deals.

Congressional Action and Travel

Another letter sent on Friday asks U.S. Secretary of Commerce Howard Lutnick to testify before the House Intelligence Committee regarding Megaspeed. Lutnick agreed to testify before the Senate Banking Committee on December 10 regarding whether the Commerce Department is properly stopping China from getting advanced AI chips. Jensen Huang has also been asked to testify. The New York Times reported that the Commerce Department originally started the Megaspeed investigation, which moved to the Justice Department in 2025 after Nvidia's lawyer reached out to a senior Commerce official. President Donald Trump plans to visit China on Thursday, though U.S. officials say he will not bring up Nvidia or the affair during his meeting with Chinese President Xi Jinping. Musk is expected to join Trump on the trip to Shenzhen for the Asia-Pacific Economic Cooperation summit on November 18 and 19.

Context

Leadership changes at major technology companies often draw intense scrutiny from major shareholders who hold billions of dollars in stock. At the same time, federal oversight of advanced technology exports to foreign nations involves multiple government bodies, including the Department of Justice, the Department of Commerce, and congressional committees.