Leo KoGuan told Bloomberg in a text message that he was done adding to his Nvidia position: “No further investment without Jensen.” Bloomberg reported that KoGuan said he had invested approximately $1.3 billion in Nvidia.
KoGuan began buying Nvidia shares earlier this year, expanding a portfolio historically concentrated in Tesla into what he describes as “super-intelligence” companies. His decision to stop is a statement about the board, not the products.
What Pushed Huang Out
Every allegation surrounding Huang’s departure remains reported, not established, and should be read accordingly.
Jensen Huang resigned as Nvidia’s chief executive following reports of two extramarital affairs. One reportedly involved Nvidia Vice President of Health Care Kimberly Powell, according to AFP. The other involved a woman whom U.S. equities intelligence officials allegedly suspected of being a Chinese intelligence asset, though those allegations remain unconfirmed. NPR said it had not independently verified that reporting, and China’s foreign ministry described the accusations as groundless speculation.
Nvidia’s board opened an inquiry but, according to reporting cited by NPR, said it found no reason to believe national security or company secrets had been compromised. That characterization reflects what was reported; Nvidia’s official filing confirms the leadership transition but does not state the board’s reasoning. Huang admitted to an affair, per AFP, though Nvidia did not publicly provide a reason for his departure.
CFO Colette Kress was named interim CEO while a search for a permanent replacement begins, according to Nvidia’s SEC filing.
KoGuan’s Argument: Back the Creator, Not the Institution
KoGuan is explicit that his loyalty follows Huang as a founder, not Nvidia as a corporate entity.
In posts reported by multiple outlets, KoGuan called Huang “the supreme creator” of Nvidia’s chips, semiconductor ecosystem, and AI economy. He argued, according to Business Today’s account of those posts, that creators should be rewarded before regulators and distributors, while acknowledging that Huang had made personal mistakes.
KoGuan said Nvidia’s three-year business trajectory had not changed. He added that he planned to redirect his intended Nvidia capital toward other companies developing advanced artificial intelligence. He also said, per Forbes Middle East, that he hoped to invest in Huang personally if Huang created or acquired another company in that space.
That distinction is the clearest way to read his position: he remains confident in what Nvidia has built and skeptical of who now runs it.
Claims Still Waiting for Confirmation
Several assertions attributed to KoGuan involve named individuals who have not publicly confirmed them.
KoGuan reportedly asserted that Elon Musk, investor Gavin Baker, and President Donald Trump each urged Huang to remain as CEO. Those claims come exclusively from KoGuan’s reported statements and have not been confirmed by any of the named individuals.
The Governance Question Nvidia Now Has to Answer
Huang’s departure forces a direct test of whether Nvidia’s dominance is institutional or founder-dependent.
KoGuan’s freeze surfaces a question the board will face throughout its succession search. Is Nvidia’s dominance in AI chips embedded deeply enough in its engineering teams, customer relationships, and supply-chain architecture to hold without Huang? Or does investor confidence remain tied to the founder himself?
According to secondary reporting, the board’s response centered on governance, workplace conduct, and potential national-security exposure. KoGuan’s argument, as reported, treats technological achievement as grounds for leniency. Those two frameworks point in opposite directions.
Capital Follows the Founder, Not the Company
KoGuan’s broader investment strategy tracks founders and technologies rather than institutions, making his freeze a consistent, if personal, expression of that philosophy.
KoGuan has also disclosed interests in SpaceX and Alphabet, though those holdings are self-reported and have not been independently verified. His stated strategy tracks founders and technologies rather than corporate entities as such.
That philosophy now leaves his reported Nvidia investment in an uncertain position. The question, as KoGuan frames it, is whether the company Huang built can demonstrate it was never really about Huang at all.
