Nvidia Board Reportedly Approached Arm CEO Rene Haas To Succeed Jensen Huang As Top Execs Threaten To Quit, Join SpaceX Terafab

• An internal social media letter purportedly signed by Nvidia staff demanded the board's resignation and Huang's reinstatement.
• Nvidia’s top leadership threatened to quit and join SpaceX Terafab.
• As the leadership search continues, Nvidia Chief Financial Officer Colette Kress remains at the helm as interim CEO. 

Rene Haas, CEO of Arm Holdings has been reportedly approached by Nvidia’s board to replace Jensen Huang, while an unverified internal memo suggested NVDA employees have threatened to join SpaceX Terafab if Huang is not reinstated. 

Haas has led the SoftBank-backed semiconductor designer since 2022. Before leading Arm, he spent roughly seven years working at Nvidia more than a decade ago. Haas maintains robust professional relationships with Huang and several members of Nvidia's board.

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While Haas is only one of multiple candidates being evaluated and that no formal offer or acceptance has been finalized, his familiarity with Nvidia’s ecosystem makes him a natural fit, FT reported. 

In the interim, Nvidia CFO Colette Kress is managing day-to-day operations as interim CEO. Nvidia did not respond to Stocktwits’ request for comment. 

Employee Backlash and SpaceX Terafab Threat

The executive search unfolds amid mounting internal friction. An internal letter circulating on X and allegedly authored by Nvidia employees has severely criticized the board's handling of Huang’s exit.

The missive accuses leadership of negotiating in bad faith and jeopardizing decades of advancement made under Huang’s leadership. The letter also warns that staff may resign to join Elon Musk’s ambitious SpaceX Terafab initiative, noting that Musk has reportedly assured them that open positions await. 

“Would be a powerful (and shocking) redemption story if he (Jensen Huang) could be reinstated as CEO ,” Tom Lee, managing partner at Fundstrat Global wrote in a post on X. 

Furthermore, an internal “suggestion box” post submitted before Huang’s resignation by a longtime Nvidia engineer urged the company’s board to consider employee sentiment before taking any action, Wired reported.  

US Officials Demand Huang’s Testimony

Meanwhile, three House committees have directed Huang to appear for closed-door testimony on December 1, or risk subpoenas, according to an X post by the Select Committee on China. Earlier in the day, CNBC reported Huang had agreed to testify before Congress before Thanksgiving.

Lawmakers are increasing scrutiny after Jensen Huang’s links with alleged Chinese spy Alice Huang raised security and defense concerns.

NVDA Stock: Retail View

Retail sentiment on Stocktwits was ‘extremely bullish’ towards Nvidia stock, with ‘extremely high’ retail chatter around the stock. 

A user also supported Huang being reinstated as CEO.

NVDA stock has lost about 13.4% year-to-date. 

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