Key Takeaways
- More than 65,000 signers identified themselves as Nvidia shareholders.
- Signers included over 6,000 self-identified current employees and more than 1,100 former employees.
- Musk warned that Huang’s departure would cost Nvidia critical deals.
Musk-Backed Petition Draws Employees and Shareholders
Stand With Jensen, a petition backed by Tesla and SpaceX CEO Elon Musk seeking Jensen Huang’s return as chief executive of Nvidia Corp. (Nasdaq: NVDA), had reached more than 120,000 names by Nov. 14. Its campaign for Huang’s reinstatement listed more than 6,000 current employees, over 1,100 former employees, more than 65,000 shareholders, and over 47,000 other supporters. Those affiliations were self-reported and unverified.
Musk said on Nov. 13 that he was signing a petition supporting Huang’s return. Replying to another user on X, he backed Huang’s reinstatement, stating: “A petition is underway to reinstate Jensen and I’m signing it too.”
In a further statement on X on Nov. 14, Musk stated:
“Jensen drove supply chain brilliantly at Nvidia, but many of those deals were a handshake with Jensen, not a written contract. Without Jensen, at least some of those critical deals will be lost.”
Campaign Demands Reinstatement and a Fair Hearing
The independent volunteer campaign demanded reinstatement, an independent investigation and fair hearing, and a timely public explanation. Organizers asked directors to provide evidence supporting Huang’s continued absence if they considered it necessary. The effort operated independently of Nvidia.
Beyond restoring Huang, the campaign sought disclosure of the inquiry’s scope, independence, and expected timeline, along with a meaningful opportunity for him to respond. Directors were also asked to explain their concerns, supporting evidence, and consideration of employee and shareholder interests. Acknowledging that they lacked access to private board deliberations, the authors said they had not been shown evidence substantiating the espionage allegation.
Public support from Musk preceded the resignation announcement. During the developing controversy, he agreed that Huang was irreplaceable for America’s AI leadership. The co-founder had led Nvidia for 33 years.
Separately, the billionaire indicated that hiring Huang would be an honor when another user suggested recruiting him. That response came before the leadership change, as uncertainty grew over whether Huang would remain in charge.
Directors Back Interim Leadership During Search
Nvidia announced Huang’s resignation on Nov. 12, covering his president, CEO, and board positions. Finance chief Colette Kress became interim CEO while retaining her financial responsibilities. Directors said they expected operations, customer commitments, and the product roadmap to continue without interruption.
Binance co-founder Changpeng Zhao also criticized Nvidia for letting Huang resign amid reports of affairs and allegations that foreign intelligence operatives targeted him. The board retained outside lawyers to conduct its independent inquiry: Joon H. Kim, a former top federal prosecutor for the Southern District of New York, and his law firm, Wachtell, Lipton, Rosen & Katz.
Earlier leadership uncertainty also reached prediction markets, where traders bought contracts tied to Huang’s potential departure. Before the resignation announcement, Polymarket odds of him leaving by year-end reached 90.5%.
Harvey C. Jones, a former Synopsys CEO, became the company’s first board chair, leading its directors. The search for a permanent CEO included internal and external candidates. Nvidia kept its quarterly results scheduled for Nov. 17, followed by an earnings call at 5 p.m. Eastern.
