Two investors tell Nvidia to keep Huang as a possible chief
The investors want a slow procedure for the next chief, but they do not want Huang back at this time.
In November 2026, Jensen Huang resigned as chief executive of Nvidia, which holds about 90 percent of the market for GPUs (computer chips that operate AI models). Colette Kress is the interim chief.
Earlier: Jensen Huang resigns as chief executive of Nvidia
Altimeter Capital and Atreides Management, two large shareholders of Nvidia, sent a letter on Friday. They want the board to use a slow and careful procedure to select its next leader. The procedure must include the potential return of Jensen Huang. Altimeter had 9.4 million shares of Nvidia on June 30, with a value of almost $1.9 billion.
What the letter says
The letter tells that Kress, chief financial officer for 13 years, will be a good chief of Nvidia. It tells that Huang has a right to a slow procedure, before “all the facts are known.”
The pressure around it
Huang resigned on Thursday after allegations of affairs. One allegation names Alice Huang, a suspected spy for China. Alice Huang also had work with Megaspeed, a customer of Nvidia. The US Justice Department investigates if Megaspeed sent restricted AI chips to China.
- Elon Musk tells on X that Musk signed a petition to put Huang back as chief.
- The petition claims more than 100,000 signatures, with more than 5,000 from Nvidia staff.
- Howard Lutnick, US Commerce Secretary, will testify to the US Senate on December 10.
What is not known
No answer from the board is in the report.
Insight: Investors may want to slow a fast external selection
Nvidia shares fell 14% on the day that Kress was selected. Analyst Ives thinks that the permanent chief will come from an external company. The letter reads as a move to stop a fast external selection while the share value is low. Look at the board after Nvidia gives its results on Tuesday.
Sources
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