Nvidia Shareholders With $2.1 Billion Stake Urge Board to Weigh Jensen Huang Return
Updated
Updated · CNBC · Nov 14
Nvidia Shareholders With $2.1 Billion Stake Urge Board to Weigh Jensen Huang Return
3 articles · Updated · CNBC · Nov 14
Summary
Altimeter Capital and Atreides Management urged Nvidia's board to run a slow leadership review that includes Jensen Huang's possible return, rather than rushing to replace him after his resignation.
The two investors hold about $2.1 billion in Nvidia shares, and their letter said interim CEO Colette Kress can lead capably while the board waits for more facts.
Huang stepped down Thursday amid affair allegations, including one involving suspected Chinese spy Alice Huang, who worked with Nvidia customer Megaspeed.
Support for Huang is building outside the boardroom: Elon Musk backed reinstatement, and an online petition says it has topped 100,000 signatures, including more than 5,000 Nvidia employees.
The leadership fight is unfolding alongside U.S. scrutiny of Megaspeed's alleged role in diverting restricted Nvidia AI chips to China, with Commerce Secretary Howard Lutnick and Huang both being pressed to testify.
What critical global AI deals are truly at risk if Nvidia's visionary founder doesn't reclaim the helm?
Will the independent espionage probe clear Jensen Huang and pave the way for his dramatic return?
How did a foreign cloud provider acquire billions in restricted AI chips without triggering early alarms?
Nvidia in Crisis: $1.8 Trillion Wiped Out as CEO Jensen Huang Resigns Amid Espionage and Governance Scandal
Overview
In November 2026, Nvidia was rocked by revelations of CEO Jensen Huang’s extramarital affairs, including one with a Chinese-linked executive, triggering his resignation under board pressure. The board quickly appointed CFO Colette Kress as interim CEO and Harvey C. Jones as independent chair, but the leadership crisis caused Nvidia’s stock to plunge and erased billions in market value. As U.S. intelligence linked the scandal to national security risks and chip smuggling, lawmakers demanded testimony and introduced new export control bills. Meanwhile, employees and investors rallied for Huang’s return, while rivals like AMD surged as capital shifted across the semiconductor sector.