If Jensen Huang resigns, who could take over Nvidia? AMD's Lisa Su included in media candidates

The pressure facing Nvidia CEO Jensen Huang is prompting the outside world to begin discussing a previously unimaginable question: who could succeed him in leading the world’s most valuable chip company?

Amid ongoing investigations by Nvidia’s board of directors and other parties, the market is concerned that turmoil at the top could severely distract management. On Monday, Nvidia’s share price dropped 4%, while competitors AMD and Broadcom’s stocks soared by 13% and nearly 9%, respectively.

In an internal email sent to employees last Sunday, Jensen Huang made it clear that he is “committed to protecting Nvidia.” This statement has intensified speculation in the market that, as a significant shareholder, Huang may ultimately choose to step aside for the overall interests of shareholders and the company’s brand, paving the way for Nvidia’s new beginning.

Currently, Nvidia internally relies heavily on Huang’s centralized management, lacking a clear “number two” who could directly take over. Although CFO Colette Kress might serve as an interim replacement, recruiting firms and industry analysts have begun to look externally, evaluating the possibility of heavyweight executives with deep semiconductor industry backgrounds taking the helm at Nvidia. Notable candidates mentioned by the media include AMD CEO Lisa Su and chip architecture company Arm’s CEO Rene Haas.

The Information cites analysts who believe that Lisa Su is one of the most highly respected executives in the semiconductor industry.

Lisa Su is considered a strong candidate to take over Nvidia because of her remarkable track record over her nine years at AMD. When she became CEO in 2014, AMD was in a debt crisis, with its share price hovering around $2 and its server chip market share dropping to just 2%. Facing these difficulties, Su, who holds a Ph.D. in electrical engineering from MIT, adjusted the company’s strategy, prioritized the development of the Zen chip architecture, and actively rebuilt business trust with tech giants such as Lenovo, Sony, Google, and Amazon.

However, there are clear obstacles to Lisa Su becoming Nvidia’s CEO: AMD is a direct competitor to Nvidia in AI chips, making such a transition commercially complicated. Furthermore, reports suggest that Jensen Huang and Lisa Su are distant relatives—a claim Su has previously denied, but if true, it would make the situation even more sensitive.

By contrast, Rene Haas might be a smoother option. He has a deep understanding of the semiconductor industry and spent seven years early in his career working at Nvidia.

The limited number of candidates stems from Nvidia’s long-standing governance structure. Jensen Huang’s management style is highly centralized, with many direct reports and “involvement in almost every aspect of the company’s daily operations.” Internally, Nvidia lacks a clear “number two” who can directly succeed him. Analysts believe that CFO Colette Kress could serve as interim CEO during a transition period, but does not have the credentials to be the permanent leader.

This structural flaw is already a hidden risk under normal circumstances and is now more prominent given the current external environment. The Information notes that, even if the board ultimately announces that Jensen Huang has not committed any wrongdoing, his reputation may never fully recover—since outsiders may then question whether the board’s statement is partly due to a lack of suitable successors.

Beyond Jensen Huang’s personal affairs, the competitive environment Nvidia faces is itself rapidly changing. On Monday, Google released a new generation of AI chips—jointly launched with AMD—directly targeting Nvidia’s core market. The day’s market reaction shows that investors have already begun repricing the industry landscape.

The Information points out that Huang has long been one of the most vocal public advocates for the AI industry, but the credibility of this role has now been somewhat undermined. As Nvidia faces intensifying challenges from competitors such as Google and AMD, management stability and strategic execution capabilities are now new variables investors consider when assessing the company’s value.