Two big Nvidia investors urge board to keep door open for Huang's return
Altimeter Capital's Brad Gerstner and Atreides Management's Gavin Baker asked Nvidia's board for a slow, deliberate CEO search that leaves open the possibility of Jensen Huang returning, after Huang resigned on Nov. 12.
A letter asking for time
Two major Nvidia shareholders are calling on the board of directors to weigh all options for the company's future leadership, including 'the potential return of Jensen Huang,' CNBC reported on Saturday.
Brad Gerstner, chief executive of Altimeter Capital, posted a letter on X on Friday that urges Nvidia's board to 'pursue a slow, measured, and deliberate process regarding the future leadership of Nvidia.' The letter is also signed by Gavin Baker of Atreides Management.
The letter said Nvidia will be 'capably led' by interim chief executive Colette Kress, who served as Nvidia's chief financial officer for 13 years before the board announced on Thursday that she would lead the company in Huang's absence. It added that the founder 'has earned the right for a deliberate process that avoids any needless rush to replace him before all the facts are known.'
The stakes: $2.13 billion in disclosed shares
Nvidia was Altimeter Capital's largest disclosed equity holding in its most recent SEC filing, with a 9.4 million-share stake worth nearly $1.9 billion as of June 30. Atreides held 1.2 million shares worth nearly $250 million at the end of June. Combined, the firms disclosed about $2.13 billion of Nvidia stock as of June 30.
Huang resigned as president, chief executive and director on Nov. 12, after reports about personal relationships and amid an independent board investigation. Nvidia's resignation announcement did not state a reason. His exit followed reports about an alleged relationship with Alice Huang, described in reports as a suspected Chinese spy who also worked with Nvidia customer Megaspeed. The Singapore-based company is being investigated by the Justice Department over whether it possibly redirected some of its supply of Nvidia's restricted artificial intelligence chips to China.
A petition, a hearing and a China trip
SpaceX chief executive Elon Musk said on X on Friday that he signed a petition asking to reinstate Huang. A petition circulating online called 'Stand with Jensen' claims to have more than 100,000 signatures, including more than 5,000 current Nvidia employees. Musk said on X on Saturday that without Huang, some 'critical deals will be lost.'
Another letter sent on Friday called on U.S. Secretary of Commerce Howard Lutnick to testify about Megaspeed before the House Intelligence Committee. Lutnick has agreed to testify before the Senate Banking Committee on Dec. 10 about whether the Commerce Department is 'properly performing its broader role of preventing China from acquiring advanced AI chips,' according to the letter. Huang has also been asked to testify.
The Commerce Department originally launched an investigation into Megaspeed that was moved to the Justice Department in 2025 after Nvidia's lawyer contacted a senior Commerce official, according to The New York Times. President Donald Trump is scheduled to visit China on Thursday, but does not plan to raise Nvidia and the suspected spy affair during his meeting with Chinese president Xi Jinping, according to U.S. officials. Musk is expected to join Trump on the trip to Shenzhen, China, for the Asia-Pacific Economic Cooperation summit on Nov. 18 and 19.
- 9.4 millionAltimeter Capital's Nvidia shares as of June 30
- Nearly $1.9 billionValue of Altimeter's Nvidia stake
- 1.2 millionAtreides Management's Nvidia shares
- About $2.13 billionCombined disclosed Nvidia holdings
- 100,000+Signatures claimed on the 'Stand with Jensen' petition
- 5,000+Current Nvidia employees said to have signed
