Altimeter and Atreides write to Nvidia’s board, asking it to choose a successor carefully
Brad Gerstner, CEO of Altimeter Capital Management, and Gavin Baker, managing partner and chief investment officer of Atreides Management, jointly wrote to Nvidia’s board as shareholders. The letter asks the board to take a slow, prudent and thoughtful process regarding future leadership, and to keep all options open, including the possibility that Jensen Huang may return.
The letter said that, given Huang’s extraordinary achievements during his long tenure of leadership and the large amount of uncertainty that still exists around events related to his departure, the board should avoid rushing to replace him so as not to harm shareholders’ best interests. During the interim period, Colette Kress and her team can competently lead the company, and the board has time to make the right decision. If, after all the facts are clarified, the board determines that Huang’s return is not in shareholders’ interests, that is within the board’s authority; but before all the facts are clear, this founder and long-time leader should be given a prudent process, to avoid an unnecessary rushed replacement.
Gerstner publicly posted the letter on X, saying that what he was proposing was the minimum acceptable standard the board owes shareholders as it deals with the current difficult situation. Baker then reposted it and agreed with that statement, while also saying he supported the petition to immediately reinstate Huang before the independent investigation results were released, but believed the letter was a constructive starting point for dialogue with the board.
Original source:
Title: This letter was sent to the Nvidia Board today which we believe outlines the minimum acceptable standards the Board owes shareholders as it manages this difficult situation. Onward.
Posted by: Brad Gerstner (@altcap)
Date posted: 2026-11-13
URL: x.com/altcap/status/2121391911655375287 (original post and attachment)
Source nature: Public shareholder letter (posted via X)
Verification status: We actually read the full text of the letter and the post this time; verification date 2026-11-13
Supporting content: The complete statement jointly requesting a prudent process, preserving the option of Huang’s return, recognizing Kress’s interim leadership, and respecting the board’s decision after the facts are fully clarified
ABAB AI Insight
This letter comes from two technology investment firms with combined assets under management of more than $25 billion, as public shareholder intervention in Nvidia’s leadership transition. Its core demand is not to force Huang’s immediate return, but to ask the board to avoid a “rush to replace” before the facts are fully clarified, while keeping a return as one of the reserved options. This echoes the public position the board had previously taken after Huang’s departure, that it had not formally begun searching for a company or candidates.
The letter explicitly recognizes Colette Kress and the current team’s ability to lead during the transition, reducing the urgency of quickly selecting a formal CEO out of a need for stability. At the same time, the letter leaves the board’s final decision-making power intact, avoiding framing the shareholders’ view as a mandatory directive. Baker’s repost additionally supports the reinstatement petition, showing subtle differences within shareholder views on the investigation results and the speed of the process.
Against the backdrop of uncertainty over financing arrangements and customer relationships triggered by Huang’s departure, large institutional shareholders publicly calling for a “slow process” may affect the board’s search pace and market expectations for stability during the transition. Key indicators to watch are whether the board formally responds, whether it hires a search firm, and the progress disclosures of the subsequent independent investigation.
ABAB News · Cognitive law
Large institutional shareholders can publicly ask the board to keep open the option of a founder’s return after departure and to avoid a rushed replacement.
Recognizing the interim CEO’s ability can reduce the urgency of quickly selecting a formal successor.
A shareholder letter can advocate a prudent process before the facts are clarified while still respecting the board’s final authority.