Nvidia Investors With $2.13 Billion Stake Warn Board Against Rushed CEO Succession

Two shareholders holding roughly US$2.13 billion in Nvidia stock have formally urged the company's board to slow down and keep every option open — including founder Jensen Huang's return — before naming a permanent chief executive.

Altimeter Capital chief executive Brad Gerstner and Atreides Management founder Gavin Baker laid out their case in a joint letter to Nvidia's board, published by Gerstner on X on Friday. Their ask is specific: Nvidia should pursue what they called a "slow, measured, and deliberate process" before deciding the company's future leadership.

To put the stake in perspective: Altimeter held approximately 9.4 million Nvidia shares worth nearly US$1.9 billion as of 30 June 2026, per CNBC, which first reported the letter. Atreides disclosed about 1.2 million shares, worth almost US$250 million.

What does this change for Nvidia's succession?

For now, not the leadership itself — but the pressure around it. Interim chief executive Colette Kress, Nvidia's CFO for 13 years, stays in charge. Gerstner and Baker acknowledged she would lead the company capably in the interim, given her deep familiarity with Nvidia's financial strategy, operations and investor relationships.

But they argued the board should not make a permanent appointment before the circumstances of Huang's resignation and the company's wider governance questions are fully examined. The letter stops short of demanding Huang's immediate reinstatement. Instead, it asks the board to avoid prematurely closing off the possibility of his return as more information emerges.

Huang resigned as Nvidia's president, chief executive and director on 12 November. The company did not publicly state a reason. The resignation followed media reports concerning alleged personal relationships and an independent board investigation — allegations and reported matters, not established findings of wrongdoing.

Musk and 100,000 signatures join the campaign

The push to bring Huang back has drawn heavyweight support. SpaceX chief executive Elon Musk said Friday he signed an online petition titled "Stand with Jensen," which claims more than 100,000 signatures — including thousands of people identifying themselves as current Nvidia employees. Musk also argued Nvidia could lose important commercial opportunities without Huang at the helm, given the founder's centrality to the company's strategic relationships.

Public support, though, doesn't decide corporate succession. That responsibility rests entirely with Nvidia's board.

A separate export-control headache

The leadership fight is unfolding alongside a second front: CNBC has reported scrutiny of Singapore-based Nvidia customer Megaspeed, which US authorities are investigating over allegations that restricted AI chips may have been redirected to China.

The geopolitical temperature is rising. Democratic members of the House Intelligence Committee have called on Commerce Secretary Howard Lutnick to testify about the Megaspeed matter, and Lutnick has agreed to appear before the Senate Banking Committee on 10 December to answer questions about the Commerce Department's role in blocking China from acquiring advanced AI chips.

Why the board can't move fast — or wait forever

Nvidia sits at the centre of the global AI race, and Huang has been the public face of its transformation from graphics-chip maker to core supplier of AI processors and computing platforms. Any successor would need to hold major customer relationships, manage an expanding global supply chain and sustain investor confidence in one of the world's most valuable technology companies.

The board must balance founder influence, shareholder expectations and business continuity while ensuring any investigation runs independently and transparently.

For now, Kress holds the interim seat, and the board faces one of the most consequential succession decisions in the technology industry.