Billionaire investor Leo KoGuan told Bloomberg in a text message on Friday, November 13th, 2026 that he is done adding to his Nvidia position. His words were short: no further investment without Jensen. KoGuan said he has invested around $1.3 billion in the company.
The pledge landed one day after Jensen Huang resigned as Nvidia's president, chief executive officer and a board member, effective immediately, on Thursday, November 12th, 2026. Separately, Tesla CEO Elon Musk, Fundstrat's Tom Lee and Shopify CEO Tobi Lutke signed an open letter titled "Stand with Jensen" asking the board to reinstate him.
What happened
Huang's departure ended a 33 year tenure at the company he co-founded in 1993, according to the company statement as reported by Decrypt and Variety. Nvidia named Chief Financial Officer and Executive Vice President Colette Kress interim CEO while the board searches internally and externally for a permanent successor, and named board member Harvey C. Jones its first ever board chair, per CNBC, Variety and Al Jazeera.
The resignation followed reports that Huang had an affair with an Nvidia executive who reports to him, and a separate relationship with a woman whom US intelligence officials believe is a Chinese intelligence asset, according to Yahoo Finance and NBC News. Al Jazeera reported the matter triggered investigations by the FBI, the US Congress and Nvidia itself.
The petition and the people on it
Stocktwits reporting carried by Yahoo Finance and TradingView said Musk, Lee and Lutke signed the "Stand with Jensen" letter, which urges the board to reinstate Huang while an independent investigation establishes the facts. Musk wrote on X that a petition was underway and that he was signing it too.
The signature count is reported inconsistently and is best given as a range. Stocktwits, via Yahoo Finance and TradingView, put it at about 36,000 at the time of writing on November 13th and November 14th, 2026, while Chinese outlet IT Home, carried by KuCoin, reported more than 56,000 signatures on November 14th, 2026.
The petition's own tracker lists nearly 2,700 current Nvidia employees and more than 20,000 current Nvidia shareholders among signatories, according to Stocktwits via Yahoo Finance. Those are the campaign's own numbers. No outlet reviewed has independently verified them or confirmed that individual signatures are authenticated.
Why it moved
Nvidia stock fell as much as 13% to 14% on Thursday, November 12th, 2026, before retail buyers pared the loss to a close down about 4.3%. Quartz, citing Bloomberg, reported that the intraday decline wiped out up to $601 billion of market capitalisation, which would have been the largest single session market value loss on record.
Shares fell a further 2.01% on Friday, November 13th, 2026, closing below a $4 trillion market capitalisation for the first time since July 2025, according to CNBC. Accounts of the week's total damage differ: NBC News reported $585 billion in lost value over the week, while Yahoo Finance reported about $515 billion erased as of Thursday. Yahoo Finance's live coverage also reported that at least ten Wall Street analysts cut Nvidia from Buy to Hold after the resignation.
Our company page for NVDA carries no insider filing tied to any of this. KoGuan is an outside shareholder, not an officer or director, and he described declining to make future purchases rather than buying or selling shares, so no Form 4 exists. Bloomberg reported that the size of his Nvidia stake could not be independently verified, and IBTimes UK noted the pledge applies only to future buying, not to his existing holding.
What to watch
The investigation does not end with the resignation. NBC News, citing sources, reported that independent board members plan to keep investigating Huang, with the probe led by independent directors alongside a former federal prosecutor. CNBC reported the board hired law firm Wachtell Lipton on Tuesday to look into the intelligence allegations.
No Nvidia statement responding to the "Stand with Jensen" petition has been reported by any outlet reviewed, and there is no indication the board has considered reinstating Huang. The open questions are who the board names permanently, how long Kress holds the interim role, and whether the investigation produces findings that change the picture either way.
Reporting drawn from Bloomberg, CNBC, NBC News, Variety, Al Jazeera, Quartz, The Edge Singapore, IBTimes UK, Decrypt, KuCoin citing IT Home, and Stocktwits via Yahoo Finance and TradingView, November 12th to November 14th, 2026.
Informational only, not investment advice.