Major Nvidia shareholders urge board to consider all leadership options, including founder's return

Altimeter Capital CEO Brad Gerstner and Atreides Management partner Gavin Baker sent a letter to Nvidia's board urging a "slow, measured, and deliberate process" in selecting the company's next chief executive. The investors, who together hold about $2.13 billion in Nvidia stock, said the board should keep all options open, including the potential return of founder Jensen Huang, while acknowledging that interim CEO Colette Kress is capable of leading the firm.

The letter, posted on X on Friday, praised Kress for her 13-year tenure as chief financial officer and emphasized that Huang "has earned the right for a deliberate process that avoids any needless rush to replace him before all the facts are known." The investors did not call for an immediate reinstatement.

Huang resigned on Thursday after allegations of multiple affairs, one involving a suspected Chinese spy linked to the Singapore-based company Megaspeed, which is under Justice Department investigation for allegedly diverting restricted AI chips to China. SpaceX CEO Elon Musk publicly supported a petition to reinstate Huang, claiming that without him some "critical deals will be lost."

Separately, a letter addressed to U.S. Secretary of Commerce Howard Lutnick asked him to testify before the House Intelligence Committee about Megaspeed, and noted that Lutnick has agreed to appear before the Senate Banking Committee on Dec. 10. Huang has also been asked to testify.

President Donald Trump is slated to visit China later this week, with Musk expected to accompany him to the APEC summit in Shenzhen on Nov. 18-19. U.S. officials say Trump does not intend to raise the Nvidia matter during his meeting with President Xi Jinping.