Brad Gerstner, CEO of Altimeter Capital, speaks during an event marking the first day of trading for “Trump Accounts” in the Oval Office of the White House July 6, 2026 in Washington, DC.
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Two major Nvidia shareholders are calling on the board to weigh all options for the company’s future direction, including “the potential return of Jensen Huang.”
Altimeter Capital CEO Brad Gerstner released a letter on Friday urging Nvidia’s board to “continue a slow, measured and deliberate process regarding the future direction of Nvidia.” The letter is also signed by Gavin Baker of Atreides Management.
Nvidia was the largest stake disclosed by Altimeter Capital in its latest SEC filing, with a stake of 9.4 million shares worth nearly $1.9 billion as of June 30. Atreides held 1.2 million shares worth nearly $250 million at the end of June.
The letter said Nvidia will be “competently led” by interim CEO Colette Kress, who served as Nvidia’s CFO for 13 years before the board announced Thursday that she would lead the company in Huang’s absence.
“But the incredible founder and long-time leader of this extraordinary company has earned the right to a deliberate process that avoids any unnecessary rush to replace him before all the facts are known,” the letter concludes. The document did not demand Huang’s immediate reinstatement.
Nvidia founder Jensen Huang resigned Thursday amid several affair allegations, including one with alleged Chinese spy Alice Huang, who also worked with Nvidia client Megaspeed. The Singapore-based company is under investigation by the Justice Department for possibly redirecting part of its supply of restricted artificial intelligence chips from Nvidia to China.
EspaceX CEO Elon Musk said on Friday that he had signed a petition calling for Huang’s reinstatement. A petition circulating online called “Stand with Jensen” claims to have more than 100,000 signatures, including more than 5,000 current Nvidia employees.
Musk said on Saturday that without Huang, some “critical agreements would be lost.”
Another letter sent Friday called on U.S. Commerce Secretary Howard Lutnick to testify about Megaspeed before the House Intelligence Committee.
Lutnick agreed to testify before the Senate Banking Committee on Dec. 10 about whether the Commerce Department is “properly fulfilling its broader role of preventing China from acquiring advanced AI chips,” according to the letter. Huang was also invited to testify.
The Commerce Department initially launched an investigation into Megaspeed that was transferred to the Justice Department in 2025 after Nvidia’s lawyer contacted a top Commerce official, according to the New York Times.
President Donald Trump is scheduled to visit China on Thursday but does not plan to discuss Nvidia and the alleged spying 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, China, for the Asia-Pacific Economic Cooperation summit on November 18-19.
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