By Hamza Faisal
Two of Nvidia's most prominent shareholders have urged the company's board not to rush into naming a permanent successor to Jensen Huang, asking directors to keep the founder's return on the table while an investigation into his departure runs its course.
The letter, from Brad Gerstner, founder of Altimeter Capital, and Gavin Baker, chief investment officer of Atreides Management, was shared publicly on X on Friday. The two funds held about $2.1 billion of Nvidia stock between them at the end of June, per their filings.
In it, the investors called on the board to "pursue a slow, measured, and deliberate process regarding the future leadership of Nvidia that leaves all options on the table, including the potential return of Jensen Huang."
A deliberate process, not a rushed appointment
Gerstner and Baker said shareholders deserved a deliberate process given the uncertainty around Huang's departure, and that Nvidia could stay under interim chief executive Colette Kress and her team while directors took time to assess the situation.
The letter also made clear the board could still decide against bringing Huang back if, once all facts were known, it concluded his return was not in shareholders' best interests. The investors argued, however, that the company's founder and long-time leader deserved a fair and deliberate process before being replaced.
The Financial Times reported on Friday that Nvidia's board had approached Arm chief executive Rene Haas as a possible successor. Haas previously spent seven years at Nvidia in senior roles. He was among several candidates under consideration, with no confirmation he had been offered the job.
43,000 signatures and counting
Separately, a public open letter hosted on the volunteer-run site Stand with Jensen has gathered more than 43,000 signatures calling for Huang's reinstatement while the investigation establishes the facts. Its live counter lists 2,980 signers as current Nvidia employees, 454 as former employees, 24,097 as shareholders and 15,517 as supporters. The campaign says affiliations are self-reported and unverified, and it is not endorsed by Nvidia or Huang.
Elon Musk is among the signers. "A petition is underway to reinstate Jensen and I'm signing it too," he wrote on X. Other names on the letter include Epic Games chief executive Tim Sweeney, Y Combinator's Garry Tan, Replit chief executive Amjad Masad and Cohere's Aidan Gomez.
The letter makes three demands: reinstate Huang, or give a specific, evidence-based reason why his absence serves Nvidia; run an independent investigation with a disclosed scope and timeline, giving Huang a fair chance to respond; and publish a timely explanation of the board's concerns and evidence. "Thirty-three years of leadership do not place anyone above accountability. But accountability requires evidence, a fair hearing, and a reasoned decision," it reads.
Inside Nvidia, an internal post urging the board to weigh employee sentiment has drawn more than 1,600 comments, most backing Huang's return, according to Wired.
Earnings are the next test
Huang stepped down on November 12 as president, chief executive and board member, days after reports about his personal relationships and allegations involving a businesswoman US officials suspected of links to Chinese intelligence. Huang has acknowledged being unfaithful, and Nvidia's announcement gave no reason for his departure.
Nvidia's independent directors opened an investigation, saying they had no reason to believe national security or company secrets had been compromised. Huang has said he supports the review and is cooperating.
Shares fell 4.3 percent on November 12 and a further 3 percent on November 13, extending a six-week losing streak. Nvidia reports third-quarter results on November 17, with Kress presenting, followed by an employee all-hands meeting the next morning.
