Jensen Huang is considering a return as Nvidia's chief executive and has discussed it with confidants, the Financial Times reported. Allies are lobbying the board, but the effort is likely to face pushback in Washington, and an independent board probe is still under way.
Jensen Huang is considering a comeback as Nvidia's chief executive, the Financial Times reported on Sunday, citing people familiar with the matter. Allies in Silicon Valley are pressing the board to reinstate him days after he resigned over reports of affairs with a suspected Chinese spy and a subordinate.
Nvidia shares closed at $162.85 on Nov 13, down 2.01%, according to Investing.com.
Allies organize a campaign for his return
Huang has discussed a possible return with confidantes, according to the FT, even as an independent probe by Nvidia's board investigates the conduct behind the leadership crisis at the $4tn chip company.
One Huang ally told the FT they were assembling a war room of Silicon Valley executives to lobby for his return and would try to win support from the White House. Meanwhile, Elon Musk and Epic Games chief executive Tim Sweeney were among executives backing a public letter demanding that the board bring him back.
Investors Brad Gerstner of Altimeter Capital and Gavin Baker of Atreides Management, both Nvidia shareholders, published an open letter on Friday urging the board to leave all options on the table, including his potential return.
Washington likely to push back as the board focuses on steadying the company
However, the FT said the effort is likely to face pushback from key policymakers in Washington. According to the FT, Treasury secretary Scott Bessent on Sunday called for a "dramatic shake-up" in the company's leadership.
Huang also lacked the controlling shareholding of other founder-CEOs, so he could not overrule any board decision. The board and a management team led by interim chief executive Colette Kress are aiming to steady the company before quarterly results on Tuesday.
The FT also reported on Friday that Arm CEO Rene Haas had been approached by Nvidia's board as a potential successor. The board said no formal process has been initiated, and spokespeople for Nvidia and Huang declined to comment.
Sources: Investing.com (Reuters), Financial Times
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