A Chinese billionaire says he’s ceasing his investments in Nvidia over the resignation of CEO Jensen Huang.
“No further investment without Jensen,” Leo KoGuan told Bloomberg News, according to an article published Friday.
The Singapore-based fat cat is chairman and co-founder of New Jersey-based SHI International, an IT infrastructure company and cloud provider, with a $13.2 billion fortune, according to the Bloomberg Billionaires Index.
He previously invested about $1.3 billion in Nvidia, which has seen its stock price plummet since revelations of Huang’s extramarital affairs surfaced — declining further in the wake of his stunning Thursday resignation.
KoGuan took to X to say he sees nothing changed about Nvidia’s trajectory over the next three years, but was voting against the company with his pocketbook, anyway.
“I will invest more in other si companies. I hope and plan to invest in Jensen Huang if he creates or buys si company. I hope he will offer me the opportunity to invest in his future company,” he said, using the shorthand for super intelligence that some use instead of the phrase AI.
KoGuan, who co-founded a software company based in New Jersey, told Bloomberg he plans on increasing investments in SpaceX and Google’s parent company, Alphabet.
KoGuan has a record of investing in big tech names. He is one of the largest Tesla shareholders, and this past March declared his purchase of 1 million Nvidia shares.
“I am convinced AI is NOT a bubble, it is only the beginning,” he declared at the time.
KoGuan lamented Huang’s situation throughout the week, praising him online as a “good guy” and saying Huang’s strengths were far more important than his weaknesses.
“I demand the NVDA board and the world to retain him as CEO of Nvidia,” KoGuan wrote on X.
Huang has long been seen as synonymous with the company he founded over 30 years ago, prompting questions about Nvidia’s fate without him at the helm.
Nvidia’s stock is down 6% since Huang admitted Sunday to an affair with alleged Chinese spy Alice Huang, no relation.
As Nvidia’s market cap shrinks, the reverberations could be felt across Silicon Valley and beyond. As of the end of July, Nvidia held $48 billion worth of stakes in more than 200 companies, according to the New York Times. The company recently doubled its investments in startups and made it easier for them to form partnerships with the chipmaker.
“Nvidia is the central bank of A.I. and all of a sudden, the Fed chairman is out,” Tomasz Tunguz, an investor at Theory Ventures, told the Gray Lady.
The Post has sought comment from KoGuan.
