Two major Nvidia shareholders are calling on the company's board of directors to weigh all options for its future leadership, including what they describe as "the potential return of Jensen Huang." Altimeter Capital CEO Brad Gerstner posted a letter on X on Friday urging the board to "pursue a slow, measured, and deliberate process regarding the future leadership of Nvidia." The letter is also signed by Atreides Management's Gavin Baker. Nvidia was Altimeter Capital's largest disclosed equity holding in its most recent SEC filing, a 9.4 million-share stake worth nearly $1.9 billion as of June 30, while Atreides held 1.2 million shares worth nearly $250 million at the end of June.
The letter says Nvidia will be "capably led" by interim CEO Colette Kress, who served as the company's CFO for 13 years and was named to lead the company in Huang's absence when the board announced the change on Thursday. Huang resigned that day amid multiple affair allegations, including one involving suspected Chinese spy Alice Huang, who also worked with Nvidia customer Megaspeed. The letter stops short of calling for Huang's immediate reinstatement, arguing instead 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."S1S2
The affair is unfolding alongside a federal investigation. The Singapore-based Megaspeed is being examined by the Justice Department for possibly redirecting some of its supply of Nvidia's restricted artificial intelligence chips to China. The Commerce Department first opened that investigation, but it was moved to the Justice Department in 2025 after Nvidia's lawyer contacted a senior Commerce official, according to The New York Times. A separate letter sent Friday asked U.S. Commerce Secretary Howard Lutnick to testify about Megaspeed before the House Intelligence Committee, and Lutnick has agreed to testify before the Senate Banking Committee on Dec. 10. Huang has also been asked to testify.S1S2
Support for Huang has also grown publicly. SpaceX CEO Elon Musk said on X on Friday that he had signed a petition asking for Huang's reinstatement, and a petition titled "Stand with Jensen" claims 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." 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 for the Asia-Pacific Economic Cooperation summit on Nov. 18 and 19.S1S2
