Elon Musk, Tom Lee, Shopify CEO Sign ‘Stand With Jensen’ Petition To Reinstate Him As Nvidia CEO

Detailed summary

Tesla Inc. (TSLA) CEO Elon Musk, Fundstrat's Tom Lee, Shopify CEO Tobi Lutke and others have joined to sign a petition to reinstate Jensen Huang as the CEO of Nvidia Corp. (NVDA).…

Tesla Inc. (TSLA) CEO Elon Musk, Fundstrat's Tom Lee, Shopify CEO Tobi Lutke and others have joined to sign a petition to reinstate Jensen Huang as the CEO of Nvidia Corp. (NVDA).

Nvidia shares fell more than 2% in Friday's regular trading, declining over 1% more during the afterhours session.

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The petition, "Stand with Jensen," had about 36,000 signatures at the time of writing. The tracker lists nearly 2,700 existing Nvidia employees among those who have signed it, while over 20,000 existing Nvidia shareholders are said to have been among those who have pledged support for Huang to be reinstated as the company's chief.

"A petition is underway to reinstate Jensen and I'm signing it too," said Musk in a post on X.

The signatories said that Huang should be reinstated while an independent investigation into the allegations surrounding him establishes the facts.

In the open letter, the group praised Huang for spending 33 years building Nvidia, arguing that his leadership and contributions to the company deserve fairness and due process rather than an abrupt removal.

They also expressed concern that Huang was removed without meaningful due process, noting that they had not been presented with evidence substantiating allegations that the woman at the center of the controversy was a spy.

They urged the board to ensure an independent investigation, give Huang a fair opportunity to respond, disclose the inquiry's scope and timeline, and publicly explain the evidence and reasoning behind its decisions.

Opening of the article, excerpted from Yahoo Finance. To read the rest, open the article on the publisher's site.