Is Jensen Huang's Reinstatement Hopeful? Silicon Valley Allies Pressure NVIDIA Corporation (NVDA.US) Board, While Bessent Calls for Major Leadership Reshuffle

According to reports, Jensen Huang is considering returning to NVIDIA Corporation (NVDA.US) as chief executive officer. Meanwhile, his Silicon Valley allies are pressuring the NVIDIA Corporation board to reinstate him. Multiple people familiar with the matter revealed that Jensen Huang has discussed with close associates the possibility of returning to the company, even as the NVIDIA Corporation board conducts an independent investigation. An ally of Jensen Huang said they are forming a "war room" composed of Silicon Valley executives to lobby for Jensen Huang's reinstatement and plan to seek support from the White House. "In the tech industry, everyone who is influential, apart from those frontier AI labs, likes Jensen Huang," the person said, adding that Jensen Huang himself supports the effort. The idea of Jensen Huang returning to NVIDIA Corporation has garnered widespread support. It is understood that after Jensen Huang's sudden resignation, NVIDIA Corporation employees launched a large-scale retention campaign. A senior engineer posted on the company's internal "suggestion box," calling on the board to hear employees' opinions before taking action, and the post quickly accumulated more than 1,600 comments. Internal communications show that more than 97% of employees want Jensen Huang to stay. Employees commented that "NVIDIA Corporation is Jensen Huang, and Jensen Huang is NVIDIA Corporation," and believed he "needs a second chance," calling for Jensen Huang's reinstatement and the board's removal. In addition, supporters launched an independent website called "Stand with Jensen." The website specifically notes that it is unrelated to NVIDIA Corporation officially, and that the initiators are current and former NVIDIA Corporation employees, partners, shareholders, and supporters. The petition website mainly demands that the NVIDIA Corporation board: temporarily reinstate Jensen Huang as CEO during the independent investigation; require the board to provide convincing evidence that the dismissal is in the company's best interest and give Jensen Huang a fair opportunity to defend himself. As of the evening of November 14, the petition had collected more than 86,000 signatures, including some current and former NVIDIA Corporation employees, shareholders, and several tech industry figures. As momentum grew, the number of signatures even exceeded 110,000. Tech industry figures such as Tesla, Inc. CEO Elon Musk and Epic Games founder Tim Sweeney also participated. In another reposted post about the composition of NVIDIA Corporation's board members, Musk wrote: "This is the board making decisions for what was once the most valuable company on Earth!?" along with a facepalm emoji. Jensen Huang's resignation has led many market observers to recall history when tech giants lost their core visionary leaders. Apple Inc. is a typical example after Apple Inc. dismissed Steve Jobs, the company quickly lost its direction and was once on the brink of bankruptcy before Jobs returned. Some analysts and industry experts said Jensen Huang's value extends beyond the technical level to supplier relationships, customer relationships, and his influence across the entire AI industry. However, the effort to push for Jensen Huang's reinstatement may face opposition from key policymakers in Washington. U.S. Treasury Secretary Bessent on November 15 called for a major leadership reshuffle at NVIDIA Corporation following Jensen Huang's departure. "I think in the process of the board searching for a new leader, they need to look outside the company. Given what's happening inside the company, they need a major overhaul," Bessent said in an interview. Bessent also said the NVIDIA Corporation board and its outside legal counsel need to respond within the next 10 days regarding the company's compliance culture on export restriction rules. Even Jensen Huang's allies are unsure how to repair his reputation. A person involved in pushing for Jensen Huang's reinstatement acknowledged: "Having an extramarital affair with a subordinate is grounds for dismissal." On November 8, Jensen Huang sent an internal letter to all employees acknowledging infidelity to his wife and apologizing to family, employees, the board, partners, and shareholders. The NVIDIA Corporation board announced the same day that it had established a special committee composed of independent directors, with the assistance of outside independent legal counsel, to launch an independent investigation to determine whether Jensen Huang was the target of a foreign intelligence operation. Just three days later, Jensen Huang was revealed to have had a second extramarital relationship, with a NVIDIA Corporation vice president who reported directly to him. On November 12, NVIDIA Corporation announced that its board had approved Jensen Huang's resignation as president, chief executive officer (CEO), and director, effective immediately. Current Executive Vice President and Chief Financial Officer Colette Kress was appointed interim CEO while continuing as chief financial officer (CFO) until a permanent successor is determined. The board will initiate a search process for a new CEO, considering both internal and external candidates. Additionally, the board announced the appointment of Harvey Jones, former CEO of Synopsys, Inc. with over 30 years of business management and venture capital experience, as the company's first board chairman. After Jensen Huang's departure from NVIDIA Corporation, the market is closely watching who will formally lead the AI chip giant. It was previously reported that the NVIDIA Corporation board had approached Arm Holdings (ARM.US) CEO Rene Haas as one of the potential candidates to succeed Jensen Huang. It is understood that Haas has served as CEO of SoftBank-owned chip design company Arm since 2022 and previously worked at NVIDIA Corporation for about seven years, maintaining close relationships with Jensen Huang and some NVIDIA Corporation board members. Regarding the report, NVIDIA Corporation downplayed speculation that it was already contacting potential CEO candidates, saying it was still screening a headhunting firm to find a successor to ousted leader Jensen Huang.