Nvidia (NASDAQ: NVDA) faces Monday’s open after a petition demanded the return of Jensen Huang, who resigned as chief executive on Thursday, the 12th of November. The petition appears to carry Elon Musk’s signature. Nvidia designs the chips that power most AI data centres.
The shares closed Friday at $162.85, down 2.01% on the day and 31.9% below the $239.24 close of the 6th of October, the highest in three months. They fell 12.75% over the week, and Thursday’s session saw 747.7m shares change hands, the heaviest volume in the period.
The petition appears to have passed 115,000 signatures as of Saturday, a count the petition site compiles itself. Musk, Amjad Masad, Tim Sweeney and Garry Tan are named signers. It asks the board to bring Huang back while an independent investigation establishes the facts.
Jensen deserves due process, not mob justice,
Petition text
The petition says Huang was removed. Other reports describe a resignation, which the board accepted, with finance chief Colette Kress now interim chief executive, meaning a temporary one. The petition is advocacy, not a board decision.
On Sunday, Megaspeed, the Singapore-based cloud provider that rents out computing power built on Nvidia chips, said Alice Huang left on the 30th of August 2025 and holds no current role. It said it has hired outside counsel for an internal investigation into reports about its business. Research group C4ADS says corporate records show she became its controlling shareholder in March 2023.
That does not settle the wider questions. The New York Times reported that US intelligence officials believe Alice Huang is a Chinese intelligence asset. Beijing called the espionage claims baseless, and Nvidia said it had no reason to believe company secrets or national security were compromised. Congressional hearings are still expected.
Brokers have turned cautious on the leadership gap. Bernstein cut Nvidia to Market Perform with a $200 target, and Oppenheimer cut it to Hold, meaning it no longer recommends buying. Oppenheimer analyst Rich Schafer said there was no obvious successor to Huang. Yorkville’s Dan Ives kept Outperform with a $225 target.
Results on Tuesday come after the US close, so after the London close. Consensus is earnings of $2.47 a share on revenue of $108.81bn, per Seeking Alpha, against a record $96.2bn last quarter. It is Kress’s first chance to address the board’s investigation.