Nvidia Chief Jensen Huang, Ousted Over Espionage Scandal, Is Already Plotting His Return to the Post
Just three days after the high-profile resignation of the founder of the world's most valuable chipmaker, his supporters in Silicon Valley have set up a dedicated war room to pressure the board of directors. However, regaining the seat will not be easy for the billionaire: he does not hold a controlling stake, while the corporation is already scouting for his replacement and bracing for scrutiny from Washington.
Jensen Huang. Photo: Sean Gallup / Getty Images
Former Nvidia CEO Jensen Huang, who resigned on Thursday, November 12, following the exposure of extramarital relationships with an alleged Chinese spy and a direct subordinate, is already discussing a plan to return to the company with his confidants. This was reported on Sunday, November 15, by the British newspaper Financial Times.
According to an associate of the businessman, Silicon Valley top executives have formed a dedicated "war room" to lobby Nvidia's board of directors for Huang's reinstatement, as well as to try to secure support in the White House.
"Everyone who matters in tech outside of the frontier labs loves Jensen," said an interlocutor of the publication, adding that these efforts have the backing of the former CEO himself.
Over the weekend, the public campaign for the return of the founder of the $4 trillion corporation gained momentum. An open letter to the board of directors demanding to "Bring Jensen Back" was supported by Tesla and SpaceX chief Elon Musk, Epic Games CEO Tim Sweeney, as well as several Nvidia employees.
Back on Friday, major shareholders of the company—Altimeter Capital founder Brad Gerstner and Atreides Management head Gavin Baker—published an appeal to the corporate leadership, urging them to keep "all options on the table, including the potential return of Jensen Huang," given his decades of service and the uncertainty surrounding the future of the business.
Search for a New CEO
Despite pressure from billionaires and investors, the push to rehabilitate Huang faces severe legal and political obstacles.
Unlike many other tech titan founders, Huang does not hold a controlling stake in Nvidia and therefore cannot veto decisions made by the board of directors. The board itself is currently conducting an independent investigation into the former chief's conduct.
Even those in the businessman's camp acknowledge the weakness of his position. "An affair with a subordinate is a firing offense," admitted one member of Huang's support group.
Aside from the internal workplace affair with Vice President of Healthcare Kimberly Powell, Huang's primary problem stems from his connection to Alice Huang, head of the Singapore-based company Megaspeed, which US authorities suspect of espionage and smuggling chips into China. This episode has drawn intense scrutiny toward how Nvidia monitors the sales of its artificial intelligence processors to clients in Asia. On Sunday, November 15, US Treasury Secretary Scott Bessent publicly called for a "radical refresh" in Nvidia's leadership following the departure of its founder.
Meanwhile, the corporation's interim CEO Colette Kress is preparing the company for the release of its quarterly financial report on Tuesday, while the board of directors is already looking for a permanent successor. According to the Financial Times, Nvidia representatives have approached Rene Haas, CEO of the British processor architecture designer Arm Holdings, with an offer to head the corporation, though officially the company states that a formal process to select a new leader has not yet been launched. Representatives of Nvidia and Jensen Huang himself declined to comment on his potential return.