Dan Ives: If Jensen Huang were replaced, Nvidia's market cap could fall 25% to 30%

Yorkville Ives senior managing director Dan Ives warned in a client note that Nvidia could lose 25% to 30% of its value as a company and stock if CEO Jensen Huang were removed, a scenario he pegs at roughly 15% probability per Wall Street estimates. The call follows a scandal over Huang's extramarital relationship with a woman suspected of being a Chinese spy, which Ives called a "moment of shame" for Nvidia. Ives argued Huang is irreplaceable "core DNA" with no seamless internal successor, highlighting key-person risk, and said a board investigation could take four to six weeks and weigh on the shares throughout. He maintained an "outperform" rating and a $300 price target, conditional on Huang staying. The outcome matters for the US and global AI GPU competitive landscape, especially in China; investors will watch the board probe's timeline and any signal on Huang's tenure.